Sensex zooms to record high 31,450 level, Nifty above 9,650 mark post strong Asian cues, oil prices recovery

The benchmark indices soared to record high-level of 31,450.32 points in morning trade on Thursday following the positive trend cues in Asian markets after oil prices climbed from their 10-month lows, while investors also took cues from the minutes of Reserve Bank of India (RBI)'s June policy meeting. 

HDFC Bank contributed significantly to the index gains, pulling it to higher levels. HDFC Bank was trading up by 0.7% at Rs 1712 per share. Other stocks in the index viz. Yes Bank is trading higher by 1.5% at Rs 1454 per share, Federal Bank is up by 1.0% at Rs 118 per share, Axis Bank is up 0.9% at Rs 512 per share, State Bank of India is up 0.7% at Rs 292 per share and IndusInd Bank is also up by 0.5% at Rs 1502 per share.

At 10:40 am, the S&P BSE Sensex was trading at 31,413, up 130 points, while the broader Nifty50 was ruling at 9,668, up 34 points. In the broader market, the S&P BSE Midcap and the S&P BSE Smallcap indices gained 0.3 percent and 0.5 percent, respectively.