Markets end at record high; Sensex gains 442 points, Nifty ends at 11,692

In the closing session on Monday, the Benchmark stocks performed exceptionally well, 29 out of 30 stocks were trading in green.

Following the positive global cues and the surge in bank stocks, the domestic stock markets closed today’s session at record highs. The BSE Sensex climbed 442.31 points or 1.16 per cent, to end at 38,694.11. NSE’s Nifty50 index cascaded to 134.85 points or 1.17 per cent to settle at 11,691.95.

Asian shares too closed at a high, mainly boosted by series of record Wall street highs last week. After US Federal Reserve Chairman Jerome Powell said a gradual approach to raising rates was best to protect the US economy and job growth, Reuters reported.

In Monday’s closing session 29 out of 30 stocks were trading in green. In the Sensex pack, the chief gainers were ICICI Bank, YES Bank, Bharti Airtel, Power Grid,  Infosys and SBIN. Power Grid, Hindalco, ICICI Bank, SBIN and Tech Mahindra led the pack of Nifty gainers.

On Monday morning, Indian equities started on a positive note by mapping the upbeat Wall street and positive Asian cues. The domestic stock markets scaled further with BSE Sensex breaching 38,600 and NSE Nifty climbing the 11,650-mark for the first time in stock market history in the mid-morning deals following the forward movement in shares of ICICI Bank, RIL, HDFC bank, Infosys, SBI and ITC.

“Domestic markets were tracking global cues and (corporate) earnings across the board have been relatively strong, so we are at a stretched valuation,” said Sanjiv Bhasin, Executive VP, Markets and Corporate Affairs, India Infoline as reported by news agency Reuters.

Meanwhile, Sun Pharma was a major loser in the Nifty pack, in the closing session, today.  Whereas the major losers on NSE Nifty were Dr Reddy’s, Bajaj Finserv and Sun Pharma.

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