Indian indices ended at record closing highs on Thursday boosted by banks and financials ahead of the RBI Monetary policy decision due tomorrow. The RBI is expected to leave rates unchanged, stick to an accommodative stance in this policy to support economic growth amid the COVID second wave.

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Gains in FMCG and metal sectors also supported the benchmarks.

The Sensex ended 383 points higher at new closing high of 52,232 while the Nifty rose 114 points to its fresh closing high of 15,690.

During the day, Nifty50 hit its new intra-day record high of 15,705.

"Domestic markets witnessed a range bound rally with strong buying interest seen in realty and consumer durables with small and mid cap stocks outperforming. The global market was cautious with the US and European markets trading in red ahead of the release of key economic US data. In the wake of increasing inflationary pressure, the domestic market is awaiting tomorrow’s RBI MPC announcement which is expected to maintain its accommodative stance," said Vinod Nair, Head Of Research at Geojit Financial Services.

Meanwhile, broader markets were also positive for the day with the midcap index up 0.9 percent and smallcap index up 1.2 percent. The Midcap index also posted a record close for the day.

On the Nifty50 index, Titan, ONGC, Eicher Motors, L&T and Axis Bank were the top gainers while IndusInd Bank, Wipro, Dr Reddy's, Tata Steel and Bajaj Auto led the losses.

Among sectors, Nifty Fin Services and Nifty Bank were up 0.9 percent and 0.8 percent, respectively while the FCMG and metal sectors rose around half a percent each. However, Nifty Auto and Nifty pharma were in the red.

PNB Housing Finance was locked in 10 percent upper circuit at Rs 762.50 per share. The Punjab National Bank's mortgage arm's share price has been hitting the upper circuit for the fourth consecutive day. On May 31, the company announced that its board approved a capital raise of up to Rs 4,000 crore, led by entities affiliated to Carlyle Group

The share price of Motherson Sumi Systems fell 7 percent after a 13 percent rise in the stock in the previous session as brokerages downgraded the stock after the company announced its March quarter earnings.

(Edited by : Pranati Deva)

First Published:Jun 3, 2021 3:34 PM IST