Markets end at record closing high; Sensex zooms over 550 points
The 30-share index zoomed over 553.42 points or 1.39 percent to hit its lifetime closing peak of 40,267.62.
New Delhi: Markets ended at record closing high on Monday with the Sensex rallying over 550 points tracking gains in auto, IT and financial stocks.
The 30-share index zoomed over 553.42 points or 1.39 percent to hit its lifetime closing peak of 40,267.62. The gauge crossed 40,000 level at closing for the first time ever today.
Similarly, the broader NSE Nifty closed above 12,000 mark for the first time. The index spurted over 165.75 points or 1.39 percent to 12,088.55.
Meanwhile, foreign institutional investors bought equity worth Rs 676.15 crore on Friday, and domestic institutional investors purchased shares to the tune of Rs 394.09 crore, provisional data available with stock exchanges showed.
Analysts believe that hopes of a rate cut by the RBI in its bi-monthly policy on Thursday also lifted investors' sentiments. The MPC headed by RBI Governor Shaktikanta Das has begun deliberations to firm up the second bi-monthly monetary policy of the fiscal.
Top Sensex gainers include Hero MotoCorp, Bajaj Auto, Asian Paints, IndusInd Bank, HUL, and Maruti, rallying up to 5.87 percent. While, ICICI Bank, NTPC and ITC slipped up to 0.13 percent.