Sensex, Nifty scale new highs

The BSE Sensex and Nifty rose to a record high for a seventh consecutive session, as blue-chips such as Larsen & Toubro (L&T) extended a rally after the Reserve Bank of India (RBI) left interest rates unchanged and said it did not expect policy tightening in the near term. The record-setting share rally has been sparked by heavy foreign buying - reaching a $3.3-billion in March - as analysts cite expectations of a recovery in the domestic economy, and bets that main opposition Bharatiya Janata Party, perceived as more business-friendly, will come to power. The BSE Sensex rose as much as 0.44 per cent to an all-time high of 22,485.77, while Nifty gained 0.41 per cent to a record high of 6,732.25. Sensex ended 0.27 per cent higher while Nifty ended up 0.25 per cent. Among blue-chip stocks, L&T gained 0.6 per cent, while Tata Consultancy Services rose two per cent.