Nifty rose for the seventh straight session to end at its fresh lifetime high amid a steady decline in daily COVID-19 cases. Sensex rose for the fourth day and ended 514.56 points higher at 51,937.44. The 30-stock index is now 579 points short of hitting its record on February 16 this year.
Nifty rose 147.15 points to 15,582.80, closing at a record high for the third consecutive session.
Reliance Industries was the top Sensex gainer surging 3.13 per cent, followed by ICICI Bank, Bharti Airtel, Dr Reddy's, Maruti, ITC, NTPC and Axis Bank.
On the other hand, M&M, Infosys, L&T, IndusInd Bank, Tech Mahindra and Sun Pharma were among the top losers, skidding up to 4.53 per cent.
Of 30 Sensex stocks, 22 ended in green.
"Amidst mixed global trends, Indian equities registered gains ahead of Q4 GDP data which has a mixed forecast. But it is expected to be better for FY22 and increased optimism from declining COVID cases is helping the market.
The rise in heavyweights supported the rally and sectors like metal, private banks and energy witnessed maximum gains in anticipation of better economic growth," said Vinod Nair, Head of Research at Geojit Financial Services.
Meanwhile, India reported the lowest daily new coronavirus infections in 50 days with 1,52,734 cases, taking the tally to 2,80,47,534 on Monday, while the active caseload declined to 20,26,092, the Health Ministry said. Market cap on BSE rose to a record high of Rs 222.99 lakh crore.
Market breadth was positive with 1,744 stocks rising against 1,492 shares falling on BSE.
BSE mid cap and small cap indices rose 96 points and 117 points, respectively. Banking stocks led the gains with BSE bankex rising 481 points to 40,344. BSE metal index too gained 415 points to 18,877. BSE consumer durables index climbed 228 points to 33,389.
Of 19 sectoral indices, 17 ended in the green. BSE IT index and BSE auto index were the sole losers falling 42.50 points and 31.28 points.
Copyright©2021 Living Media India Limited. For reprint rights: Syndications Today