Nifty 50 hits record high in Auto and Banking sector

Mumbai, 14/9:In a big development , India’s Nifty 50  index hits record high.Auto makers Eicher Motors and Hero MotoCorp were among the top percentage gainers on the Nifty 50 index, rising about 1.3 per cent to 1.6 per cent. 

India’s blue-chip Nifty50 index hit a record high on Tuesday, boosted by automobile and banking stocks, while shares of Zee Entertainment surged nearly 25 per cent after top investors at the firm sought the removal of its chief executive from the board.

The NSE Nifty50 index was up 0.4 per cent at 17,424.4 by 10:28 am after touching a peak at 17,438.55. The S&P BSE Sensex gained 0.39% to 58,407.43.

Data showed on Monday that August retail inflation fell after food prices softened following an easing in supplies. The reading stayed within the Reserve Bank of India’s 2 per cent to 6 per cent comfort range for a second month in a row.

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