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Equity markets muster solid gains to close all-time high

Equity markets muster solid gains to close all-time high
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Mumbai: Equity markets mustered solid gains to close at all-time highs on Monday as risk sentiment improved after multiple states began easing COVID-19 restrictions amid falling cases.

The market capitalisation of all BSE-listed companies reached a fresh lifetime high of over Rs 229 lakh crore on Monday following bullish investor sentiment.

After starting on a tepid note, the 30-share BSE Sensex saw good buying in energy, IT and bank stocks in afternoon trade. It finally finished 228.46 points or 0.44 per cent higher at its new closing record of 52,328.51.

Similarly, the broader NSE Nifty surged 81.40 points or 0.52 per cent to its all-time peak of 15,751.65.

PowerGrid topped the Sensex gainers' chart with a jump of 4.44 per cent, followed by NTPC, UltraTech Cement, Reliance Industries (RIL), IndusInd Bank, HCL Tech, Tech Mahindra and L&T.

Index heavyweight Reliance Industries contributed around half of the benchmark's gains.

On the other hand, Bajaj Finance, Bajaj Finserv, HDFC, Dr Reddy's, SBI and Oil and Natural Gas Corporation (ONGC) were among the laggards, tumbling up to 4.43 per cent.

A sharp rebound was seen in private banks, auto and IT which supported market, while metals and pharma witnessed profit booking.

Sector-wise, BSE utilities, power, telecom, energy, oil and gas, industrials and IT indices surged as much as 3.33 per cent, while realty, finance and metal ended in the red. Broader BSE midcap and smallcap indices rallied up to 1.38 per cent.

International oil benchmark Brent crude was trading 0.58 per cent lower at $71.47 per barrel.

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