Market posted strong gains, most of Adani Group stocks recover
At close, the Sensex was up 1,961.32 points or 2.54% at 79,117.11, and the Nifty was up 557.35 points or 2.39% at 23,907.25.
The Indian domestic markets extended their winning streak for the sixth consecutive day in a row on Monday, led by strong gains in Infosys, ICICI Bank and Reliance Industries amid a positive trend in global markets.
The S&P BSE Sensex ended 617.14 points or 1.22 per cent higher at its record closing peak of 51,348.77.
It had earlier touched a lifetime high of 51,523.38 during the day.
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Similarly, the broader NSE Nifty surged 191.55 points or 1.28 per cent to its lifetime closing high of 15,115.80. It touched an intra-day record of 15,159.90.
Gainers of the Sensex pack were led by Mahindra and Mahindra (M&M), soaring around 7 per cent, followed by Bajaj Finserv, Bharti Airtel, PowerGrid, Infosys and ICICI Bank. On the other hand, HUL, Kotak Bank, Bajaj Finance and ITC were among the laggards.
Broader markets, S&P BSE Smallcap and S&P BSE Nifty Midcap supported the rally by gaining more than 1.5 per cent each.
According to Binod Modi, Head-Strategy at Reliance Securities, domestic equities remained in the grip of bulls with benchmark indices extending gains for the sixth consecutive day.
“Improved prospects of sustained economic recovery on the backdrop of sharp increase in capital expenditures and bold reform measures have emboldened investors.
“While global equities remained favourable today, benchmark index Nifty and Sensex recorded fresh all-time highs,” he said.
Elsewhere in Asia, bourses in Shanghai, Hong Kong and Tokyo ended with significant gains, while Seoul was in the red.
Stock exchanges in Europe were trading on a positive note in mid-session deals.
Meanwhile, the global oil benchmark Brent crude was trading 0.76 per cent higher at USD 60.01 per barrel.
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