Sensex hits record closing high of 21,034 points

Mumbai, Oct 30 (IANS) Sensex, the benchmark index of Indian stock markets, Wednesday hit a record closing high of 21,034 points, helped by strong buying support from foreign funds.

The 30-scrip S&P Sensex of the Bombay Stock Exchange (BSE) closed 104.96 points or 0.50 percent higher at 21,033.97 points. This is the highest closing level of the benchmark index.

The previous highest closing level of the Sensex was 21,004 points registered Nov 5, 2010.

The Sensex is also not far from its record high of 21,206.77 points touched Jan 10, 2008.

The benchmark Sensex touched a high of 21,086.59 points in intra-day trading Wednesday.

The Indian stock markets rallied for the second consecutive day after the Reserve Bank of India hiked the repo rate by 25 basis points along expected lines and cut Marginal Standing Facility (MSF) rate to ease liquidity. Interest rate-sensitive banking stocks have rallied following the RBI move.