Sensex hits record high, heads for seventh monthly gain

Reuters Market Eye - The BSE Sensex gains as much as 0.43 percent to hit a record high of 26,674.38 on Thursday, surpassing the previous life high hit on Monday. The Nifty gains 0.36 percent and is near a record high.

The benchmark index is up 2.95 percent for August, while the Nifty is up 3.1 percent so far. The Sensex is headed towards its seventh consecutive monthly gains.

Positive global stocks and continued foreign buying help ahead of derivatives expiry at the end of the session.

FIIs bought shares worth 2.90 billion rupees ($48 million) on Wednesday totalling nearly $800 million in August so far.

Blue-chips gain: ICICI Bank (ICBK.NS) climbs 1.3 percent, while Larsen and Toubro (LART.NS) rises 1 percent.

Tata Motors (TAMO.NS) gains 1.4 percent.

(Reporting by Abhishek Vishnoi)