The Indian equity benchmarks surged for sixth session in a row and clocked another session of record highs on Monday, as a budget-inspired rally continued, with banking, auto and metal shares leading the broad-based rally. The benchmarks staged a gap up opening and held on to gains wherein the Sensex rose as much as 792 points to hit record high of 51,523.38 and Nifty 50 index closed above its important psychological level of 15,000 for the first time. The Sensex has surged a whopping 11.31 per cent and Nifty 50 index has climbed 11.2 per cent since the Budget was presented last Monday.
The Sensex climbed 617 points to close at record high of 51,349 and Nifty 50 index advanced 192 points to settle at record high of 15,116.
Infosys, ICICI Bank, Reliance Industries, Tata Consultancy Services, Mahindra & Mahindra, Larsen & Toubro and Axis Bank were top movers in the Sensex, they collectively added over 350 points towards the Sensex.
Eight of 11 sector gauges compiled by the National Stock Exchange ended higher led by the Nifty Auto and Metal indexes’ over 3 per cent gain. Nifty IT, Media, Private Bank, Realty and Bank indexes also rose between 1-2.5 per cent.
On the other hand, FMCG and PSU Bank indexes ended with a negative bias.
Mid- and small-cap shares also witnessed buying interest as Nifty Midcap 100 and Nifty Smallcap 100 indexes rose over 1.5 per cent each.
Mahindra & Mahindra was top Nifty gainer, the stock rose over 7 per cent to close at Rs 929 after it reported better than anticipated December quarter earnings on Friday.
Tata Motors, Hindalco, Shree Cements, JSW Steel, Bajaj Finserv, Infosys, Adani Ports, Bharti Airtel, GAIL India, ICICI Bank, Tata Steel, Wipro and Larsen & Toubro also rose between 2.5-6.4 per cent.
On the flipside, Britannia Industries, Hindustan Unilever, Kotak Mahindra Bank, Divi’s Labs, Bajaj Finance, SBI Life, ITC, Sun Pharma and Bajaj Auto were among the notable losers.
The overall market breadth was positive as 1,723 shares ended higher while 1,311 closed lower on the BSE.