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Sensex rises 403 points, Nifty at record high; Bajaj Finserv, Tech Mahindra, Tata Steel top gainers

Sensex rises 403 points, Nifty at record high; Bajaj Finserv, Tech Mahindra, Tata Steel top gainers

Bajaj Finserv was the was the top Sensex gainer, climbing 7.91 per cent after the company received in-principle approval from Sebi for sponsoring a mutual fund

Sensex, Nifty on a roll! Sensex, Nifty on a roll!

Benchmark indices closed higher for the second straight session amid positive global cues. Sensex ended 403 points higher at 55,958 and Nifty gained 128 points to end at its record closing peak of 16,624 today.

Bajaj Finserv was the top Sensex gainer, climbing 7.91 per cent after the company received in-principle approval from Sebi for sponsoring a mutual fund.

Tech Mahindra, Tata Steel, Bajaj Finance, HDFC Bank, SBI and ICICI Bank were the other top gainers, rising up to 3.41 per cent.

Bull run on Dalal Street

Nestle India, HDFC, Infosys, HCL Tech, Asian Paints, Kotak Bank were among the tp Sensex losers, shedding up to 1.34 per cent.

Experts said market sentiment was also bolstered after Finance Minister Nirmala Sitharaman on Monday unveiled an ambitious Rs 6 lakh crore National Monetisation Pipeline (NMP) that included unlocking value by involving private companies across infrastructure sectors -- from passenger trains and railway stations to airports, roads and stadiums.

"Strong rebound in broader markets along with favourable global cues bolstered optimism in Dalal Street, led by metal, banking and realty stocks. Metal stocks led the rally as value buying was witnessed in the sector after deep sell-off during the past four trading sessions due to weak iron ore futures across the globe," said Vinod Nair, Head of Research at Geojit Financial Services.

BSE metal, basic materials, oil and gas, industrials and capital goods indices rose as much as 2.76 per cent, while IT, teck and FMCG ended in the red.

Broader BSE midcap and smallcap indices rallied up to 1.69 per cent.

Market breadth was positive with 2,115 shares rising against 1073 stocks ending lower on BSE.

Market cap of BSE-listed firms rose to Rs 240.47 lakh crore.

Global markets

France's CAC 40 was little changed, inching down less than 0.1% to 6,682.28 in early trading, while Germany's DAX added 0.2% to 15,884.33. Britain's FTSE 100 slid 0.1% to 7,103.75. U.S. shares were set to drift higher with Dow futures gaining nearly 0.2% to 35,334.00. S&P 500 futures were up 0.2% at 4,485.75.

Japan's benchmark Nikkei 225 rose 0.9% to finish at 27,732.10. South Korea's Kospi gained 1.6% to 3,138.30. Australia's S&P/ASX 200 rose 0.2% to 7,503.00. Hong Kong's Hang Seng added 2.5% to 25,727.92, while the Shanghai Composite was up 1.1% at 3,514.47.