Mumbai: Buoyed by recent government announcements and global developments, domestic equity indices on Thursday hit record highs. The benchmark Sensex closed at a record high of 40,653.74 after soaring nearly 184 points, while the Nifty 50 jumped 0.4% to close at 12,012.05.

The BSE Realty index gained nearly 1% as the Centre on Wednesday approved a Rs25,000 crore fund to help complete over 1,600 stalled housing projects. The government will infuse Rs10,000 crore in an alternative investment fund, and rope in State Bank of India and Life Insurance Corporation to put another Rs15,000 crore into the fund.

In today’s trade, Indiabulls Real Estate gained 4.9%, Phoenix Mills gained 3.1%, Sobha was up 2.3%, Oberoi Realty rose 0.8% and DLF advanced 0.4%. NBCC jumped 8.2% to close at 41.55 on optimism around revival of stalled housing projects.

Equity markets in Asia and Europe soared after reports said that China and the US have agreed to cancel tariffs imposed on each others' goods in phases. China's commerce ministry said Washington and Beijing must simultaneously cancel some duties on each others' goods for the two sides to reach a "phase one" trade deal.

Among Asian markets, Australia's S&P/ASX 200 Index gained 1%, Hong Kong's Hang Seng Index gained 0.6% and Japan's Nikkei225 Index gained 0.1%. European indices also jumped in early deals today.

Back home, Midcap and Smallcap indices gained 0.7% and 0.5% respectively, outperforming the Sensex. On BSE, 1,339 shares rose, while 1,158 fell. A total of 187 shares were unchanged.

Tata Steel lost 0.3% as September quarter results showed that economic conditions were bleaker than anticipated. While tax write-backs aided net profit, which rose nearly 6%, Tata Steel’s second-quarter revenue fell 15.4%, year-on-year.

Shares of InterGlobe Aviation gained 1.6% to close at 1491.90 on BSE after Qatar Airways group chief executive Akbar Al Baker announced a code share agreement with IndiGo airlines. As part of the agreement, Qatar Airways will place its code on IndiGo flights.

Hindustan Unilever shed 1.9% to close at Rs2,137.80 after the Mumbai bench of the National Company Law Tribunal sanctioned the scheme of merger by absorption among GlaxoSmithKline Consumer Healthcare and Hindustan Unilever.

Yes Bank shed 3.3% to close at 66.50 after Moody's Investors Service placed the lender’s foreign currency issuer rating of ‘Ba3' under review for downgrade.

Meanwhile, Reserve Bank of India (RBI) governor Shaktikanta Das today said that the central was closely monitoring non-banking financial companies , and is regularly interacting with the management of these companies to take corrective steps as and when required.