Sensex closes record high of 37,888, Nifty50 settles at 11,450 points

The stock market today closed at record highs, led by rise in the shares of financial stocks and Reliance Industries (RIL). The BSE Sensex closed at record high of 37,888, up 222 points, while Nifty 50 settled at a high of 11,450 points, up 61 points. The Sensex hit all-time high of 37,931.42 during the day. Nifty50 too touched its record high level of 11,459.95. RIL closed 2.85 percent higher, ending the day at Rs 1,217.25 on the BSE. The stock had hit a new high of Rs 1,222 during the day.

ONGC, Reliance Industries, Cipla, Infratel and Bajaj Finance were top performers on the Nifty 50 index. On the Nifty index, 34 stocks advanced and 16 declined, indicating a positive scenario of the market.
 
Led by State Bank of India and Bank of Baroda, Nifty PSU Bank ended about 1 per cent higher.  Asian shares recovered further for the fourth  consecutive day on Wednesday, buoyed by strong US earnings and expectations that Beijing may launch fiscal stimulus.
 
MSCI's broadest index of Asia-Pacific shares outside Japan gained 0.3 per cent. Japan's Nikkei was down 0.1 percent. Supported by a report of rising US crude inventories as well as the introduction of sanctions against Iran, oil prices held steady on Wednesday.

(With Agency inputs)