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Indicating economic revival amid contained coronavirus infections, the Bombay Stock Exchange (BSE) benchmark Sensex on Monday surged 609.83 points to close at an all-time high of 52,154.13.
Axis Bank up by six percent ended the day as the top gainer followed by gains in ICICI Bank, Bajaj Finance, State Bank of India (SBI), Bajaj Finserv, IndusInd Bank, and HDFC Bank.
READ: India’s CPI Inflation Falls To 16-Month Low At 4.06% In January
However, losses in TCS, Dr. Reddy’s Labs, Tech Mahindra, HUL, Asian Paints, and HCL Tech, all down up to 1.8 percent, capped gains.
In the broader market, the S&P BSE MidCap index closed around 1.4 percent higher with up to 14 percent gains in Cholamandalam Finance, Apollo Hospitals, Adani Transmissions, LIC Housing Finance, Adani Enterprises and M&M Finance.
Amid positive global cues, the NSE Nifty too logged gains of around one percent in intra-day trade. Nifty climbed 145 points or 0.96 percent to trade at 15,308.
About 22 stocks declined on the index on Monday compared with 28 stocks that advanced. SBI Life, HDFC Life, TCS, Dr Reddy’s Labs and Grasim were among the top losers on the index.
According to analysts, strong corporate earnings have ignited hopes of faster economic recovery while buoyant global markets also aided risk sentiment.
Nifty Bank index has since the start of February rallied a whopping 23 percent in almost 15 days.
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