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Sensex zooms 765 points to record high, Nifty nears 17K; Bharti Airtel, Axis Bank, Tata Steel top gainers

Sensex zooms 765 points to record high, Nifty nears 17K; Bharti Airtel, Axis Bank, Tata Steel top gainers

After touching a lifetime high of 56,958 during the day, the 30-share index ended 765 points or 1.36 per cent higher at 56,889

Market capitalisation of BSE-listed firms hit an all-time high of Rs 247 lakh crore today after Sensex and Nifty closed in the green for the third consecutive session Market capitalisation of BSE-listed firms hit an all-time high of Rs 247 lakh crore today after Sensex and Nifty closed in the green for the third consecutive session

Sensex surged 765 points to scale a fresh lifetime high on Monday, driven by gains in index heavyweights Reliance Industries, ICICI Bank and Axis Bank amid a positive trend in global markets.

After touching a lifetime high of 56,958 during the day, the 30-share index ended 765 points or 1.36 per cent higher at 56,889.76.

Nifty rose 225.85 points or 1.35 per cent to its record closing of 16,931.05. It touched an all-time intra-day high of 16,951.50.

Bharti Airtel was the top Sensex gainer, rallying over 4 per cent, followed by Axis Bank, Tata Steel, Titan, Maruti and Bajaj Finance.

Bulls lead charge

Tech Mahindra, Nestle India, Infosys and TCS were the only Sensex losers, falling up to 1.88%.

Deepak Jasani, Head of Retail Research, HDFC Securities said,"Nifty closed once again at the all time high. It is now near the 17000 psychological mark. Sharply positive advance decline ratio has improved sentiments, though participants are aware of the high valuation and possibility of a correction that can set in soon. 17,000 is the next logical target for the Nifty while 16731 is the support for the near term."

Market breadth was positive with 2222 shares ending higher against 1,096 shares closing in the red. 179 shares were unchanged.

Market capitalisation of BSE-listed firms hit an all-time high of Rs 247 lakh crore today after Sensex and Nifty closed in the green for the third consecutive session. Market cap of BSE-listed firms rose to Rs 247.32 lakh crore today against previous close of Rs 243.73 lakh crore.

BSE mid cap and small cap indices rose 400.99 points and 406.13 points, respectively.

Banking shares led the gains with their BSE index ending 834 points higher at 41,313

BSE consumer durables and BSE metal indices were the other major gainers, rising 681 points and 518 points, respectively.

Meanwhile, rupee surged by 40 paise to close at 73.29 (provisional) against the US dollar, supported by a firm trend in domestic equities and a weak American currency.

The local unit moved in a range of 73.21 to 73.54 in the day trade.

Elsewhere in Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul ended with gains. Equities in Europe were also trading on a positive note in mid-session deals.

Meanwhile, international oil benchmark Brent crude slipped 0.20 per cent to USD 71.56 per barrel.