Sensex rallies over 600 pts to hit record high


Equity benchmark Sensex rallied over 600 points to scale fresh lifetime high in early trade on Monday tracking strong gains in index majors ICICI Bank, HDFC Bank and M&M amid a positive trend in global markets. The 30-share BSE index was trading 668.36 points or 1.32 per cent higher at its record intra-day peak of 51,399.99. 

Similarly, the broader NSE Nifty surged 192.55 points or 1.29 per cent to its lifetime high of 15,116.80. Mahindra and Mahindra (M&M) was the top gainer in the Sensex pack, soaring around 10 per cent, followed by Axis Bank, ICICI Bank, IndusInd Bank, SBI and Bajaj Finance. On the other hand, NTPC and Bajaj Auto were the laggards.

In the previous session, Sensex ended 117.34 points or 0.23 per cent higher at its fresh closing record of 50,731.63, and Nifty closed at its all-time high of 14,924.25, up 28.60 points or 0.19 per cent.

Foreign portfolio investors (FPIs) were net buyers in the capital market as they purchased shares worth Rs 1,461.71 crore on Friday, as per exchange data. According to Binod Modi Head-Strategy at Reliance Securities, domestic equities continue to look good at the moment. -- PTI


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