Sensex Rises Over 500 Points To Hit Fresh All-Time High; Nifty Trading Above 18,500

Equity indices on Monday continued to hit fresh peaks led by gains in banking and metal stocks. The benchmark BSE Sensex surged 524 points or 0.86 per cent to 61,830 in late deals; while the broader NSE Nifty moved 164 points or 0.89 per cent higher to 18,502.

Sensex Rises Over 500 Points To Hit Fresh All-Time High; Nifty Trading Above 18,500

The 30-share BSE index hit an all-time intraday high of 61,962.

New Delhi: Equity indices on Monday continued to hit fresh peaks led by gains in banking and metal stocks. The benchmark BSE Sensex surged 524 points or 0.86 per cent to 61,830 in late deals; while the broader NSE Nifty moved 164 points or 0.89 per cent higher to 18,502. The 30-share BSE index hit an all-time intraday high of 61,962.

Top gainers in the BSE pack included Infosys, Tata Steel, Tech Mahindra, ICICI Bank, Maruti Suzuki India, ITC and Bajaj Finserv with their shares rising as much as 3.38 per cent.

On the NSE platform, sub-indices Nifty Metal and Nifty PSU Bank jumped as much as 3.84 per cent. 

Gaurav Garg, Head of Research, Capitalvia Global Research Ltd, "Indian equity benchmarks hit fresh highs despite weak global clues. The domestic benchmarks were driven by metal stocks. BSE mid-cap and small-cap indices were also trading in green."

He added, "Domestic sentiments remained positive after the country's foreign exchanges rose by $2.039 billion to $639.516 billion." Our research 

Mr Garg further suggested, "61,350-61,600 (Sensex) will be an important support level in the market. If the market sustains above 61,600. We can expect the market to trade in the range of 61,600-62,000. Technical indicators also support positivity in the market."

The Nifty Bank index gained 0.97 per cent in late deals.

Shares of PNB Housing Finance Ltd fell as much as 5 per cent to their lowest since early-June after the mortgage lender scrapped a fund-raising deal with a group of investors, led by private-equity firm Carlyle Group.

Meanwhile, foreign institutional investors (FIIs) were net buyers in the capital market, as they purchased shares worth Rs 1,681.60 crore, as per exchange data.

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