Nifty rises to record high above 9,000

MUMBAI (Reuters) - The broader Nifty rose to a record high on Tuesday led by gains in Reliance Industries after CLSA said the conglomerate could report a record profit for the fourth quarter, while hopes of higher weightage in the MSCI index also helped.

The 50-share index rose as much as 0.45 pct to 9,008, surpassing its previous record high of 8,996.60 hit on Jan. 30.

The benchmark BSE Sensex also gained as much as 0.52 percent at 29,613 but was still 0.78 percent away from its all-time high of 29,844.16 hit on Jan. 30.

Traders said they were waiting for clarity on the central bank's stance on rate cuts after it formally adopted inflation targeting and the government pushed its fiscal deficit target by a year to focus on infrastructure spending.

 

(Reporting by Abhishek Vishnoi; Editing by Biju Dwarakanath)