BSE Sensex touches new life high above 22,500

Reuters Market Eye - The BSE Sensex hit a record high for an eighth consecutive session as potential bank licence candidates such as IDFC Ltd surge after the Election Commission allowed the Reserve Bank of India to announce new bank licences before the outcome of general elections set to conclude next month.

The BSE Sensex is up 0.4 percent after earlier rising to an all-time high of 22,592.10, while the Nifty gains 0.39 percent after earlier touching to a record high of 6,763.50.

IDFC Ltd surges 3.8 percent and LIC Housing Finance is up 3.7 percent

Among blue chip stocks, ICICI Bank Ltd gains 2 percent, while Tata Motors Ltd is up 2.8 percent.

 

Overseas investors bought Indian shares worth 3.85 billion rupees on Tuesday, provisional exchange data show, after buying $3.3 billion worth of stocks in March.

(Reporting by Abhishek Vishnoi)