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Sensex, Nifty hit record closing highs; ICICI Bank, Reliance lead

Reuters
A broker reacts while trading at his computer terminal at a stock brokerage firm in Mumbai, February 26, 2016. REUTERS/Shailesh Andrade/Files

(Reuters) - Indian shares climbed to record closing highs on Monday, led by strong gains in heavyweights Reliance Industries Ltd and ICICI Bank Ltd, while investor focus turned to a central bank policy meeting later this week.

The benchmark BSE Sensex closed up 0.42 percent at 37,494.4, after hitting a life-high of 37,533.50 earlier in the session.

The broader NSE Nifty ended 0.37 percent higher at 11,319.55, closing above 11,300 for the first time.

ICICI Bank closed 4.88 percent higher and contributed to over a fifth of the NSE index's gains. Reliance ended 1.96 percent higher.

Axis Bank Ltd closed 2.85 percent higher ahead of June-quarter results later in the day while Bharti Airtel Ltd ended 5.68 percent firmer.

(Reporting by Arnab Paul in Bengaluru; Editing by Vyas Mohan)