Nifty hits record high above 8,400 ahead of CPI data

Reuters Market Eye - The BSE Sensex is trading 0.3 percent after hitting its all-time high of 28,126.48 earlier in the session. The Nifty rises 0.12 percent after reaching a record of 8,415.05.

Rate-sensitive stocks lead gains: ICICI Bank up 0.9 pct, while Axis Bank rises 2.2 pct.

Tata Motors gains 1.5 pct on optimism ahead of September-quarter earnings on Friday.

October retail inflation data, due after market hours, is key ahead of the central bank's rate decision on Dec. 2.

CPI is expected to slow to a record 5.8 pct, says a Reuters poll. However, RBI Executive Director Deepak Mohanty was quoted by local media on Tuesday as saying inflation expectations were "high".

 

(Reporting by Abhishek Vishnoi)