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Equity indices close at record highs, IT stocks gain
Mumbai: Continuing with gains for the fourth consecutive trade session, the key Indian equity indices on Monday yet again surged to record high levels with healthy buying in consumer durables, IT and capital goods stocks.
Index heavyweights like Tata Consultancy Services, Reliance Industries, Axis Bank and ONGC among others added to the upward trajectory of the benchmark indices.
The wider Nifty50 of the National Stock Exchange (NSE) provisionally closed higher by 71.50 points or 0.66 per cent at a new level of 10,966.20 points during the intra-day trade.
The Nifty50 scaled a record intra-day high of 10,975.10 points.
The barometer 30-scrip Sensitive Index (Sensex) of the BSE too touched a new level of 35,827.70 points during intra-day trade.
At 3.30 p.m., the Sensex closed at a fresh level of 35,798.01 points -- up 286.43 points or 0.81 per cent -- from its previous session's close.
The BSE market breadth was bullish -- 1,568 stocks advanced and 1,323 declined.
According to market observers, broadly positive global cues, coupled with upbeat quarterly corporate earnings along with continuous inflow of foreign funds lifted investors' risk-taking appetite.
On Friday, positive global cues, coupled with upbeat quarterly corporate earnings and healthy buying in banking stocks, propelled the key indices to close at new record highs.
The Nifty50 closed at 10,894.70 points, while the Sensex closed at 35,511.58 points.