Sensex hits new high, Nifty tops 16,300, Airtel surges 6%

After trading on a tepid note in morning deals, mojo returned to market as benchmark indices hit fresh record highs, with Nifty surging past the 16,300-mark.

The 50-pack index hit an all-time high of 16,327.10 in trade and was last up 60 points or 0.37 per cent at 16,310. Meanwhile, BSE barometer Sensex was trading around 260 points or 0.48 per cent higher at 54,600 levels. The index touched new peak of 54,633.96 in trade.

Individually, shares of Vodafone Idea hit 15 per cent lower circuit after Kumar Mangalam Birla stepped down as non-executive chairman of Vodafone Idea (Vi) after offering to give up his stake in the debt-ridden telecommunications (telecom) company.