Sensex, Nifty hit record highs; reforms outpace hawkish Fed

MUMBAI (Reuters) - The BSE Sensex and Nifty rose nearly 1 percent to a record high on Thursday as investors bet an improving economy and government reforms would allow the country to better withstand potential rate hikes by the U.S. Federal Reserve.

The 30-share BSE Sensex rose as much as 1.1 percent to an all-time high of 27,390.60, while the Nifty gained as much as 1.12 percent to mark a record high of 8,181.55, surpassing their previous highs hit on Sept. 8.

Exporters led gainers on the increased Fed optimism about the U.S. economy, with Infosys Ltd provisionally ending up 1.6 percent while rival Tata Consultancy Services Ltd gaining 2.3 percent.

 

The benchmark BSE Sensex provisionally closed 0.73 percent higher, while the broader Nifty gained 0.82 percent, rising for eight sessions in nine.

(Reporting by Abhishek Vishnoi; Editing by Gopakumar Warrier)