Markets scale new heights powered by gains in auto, power & banking stocks

Mumbai: Equity benchmarks Sensex and Nifty on Monday scaled new peaks by continuing their winning run to the third session in a row, propelled by gains in mainly auto, power and banking shares.

Investors' wealth jumped Rs 5,03,649.75 crore in three days of rally in equities, with the market capitalisation of BSE-listed firms reaching a fresh record high of Rs 2,67,24,196.80 crore.

After scaling a new intraday high of 60,476.13 during the session, the 30-share Sensex closed 76.72 points or 0.13 per cent higher at 60,135.78 marking its new closing high as well.

Similarly, the Nifty rose 50.75 points or 0.28 per cent to its all-time closing high of 17,945.95. Intraday, the NSE gauge touched a new peak of 18,041.95.

Maruti was the top gainer in the Sensex pack, rallying nearly 4 per cent, followed by PowerGrid, ITC, NTPC, SBI, M&M, Kotak Bank and

HDFC Bank.

On the other hand, TCS was the top loser on the Sensex, shedding over 6 per cent, after the company's Q2 earnings missed street expectations.

According to an Emkay Global note, TCS Q2 operating performance missed expectations, reporting lower-than-expected revenue and earnings before interest, taxes and corporate overhead or management (EBITM).

The company on Friday reported a 14.1 per cent rise in consolidated net profit at Rs 9,624 crore in the September 2021 quarter.

Following suit, Tech Mahindra, Infosys, HCL Tech and Reliance Industries fell up to 2.76 per cent.

Sectorally, BSE utilities, power, auto, metal, realty and bankex rose up to 2.80 per cent, while IT, teck, telecom and energy fell up to 2.87 per cent.

Broader midcap and smallcap indices rose up to 0.60 per cent.

Elsewhere in Asia, bourses in Hong Kong and Tokyo ended with gains, while Shanghai was in the red.

Stock exchanges in Europe were largely trading with losses in mid-session deals.

Meanwhile, international oil benchmark Brent crude rose 2.12 per cent to $84.14 per barrel.