Markets close at new record highs as PSU bank stocks shine
Mumbai: Benchmark Sensex and Nifty closed at new record high levels on Monday following buying in PSU bank shares and fresh foreign fund inflows.
The 30-share BSE Sensex rose by 145.52 points or 0.18 per cent to settle at a new record high of 80,664.86. During the day, it advanced 343.2 points or 0.42 per cent to hit a high of 80,862.54.
The NSE Nifty rallied 84.55 points or 0.35 per cent to settle at an all-time closing high of 24,586.70. During the day, it surged 132.9 points or 0.54 per cent to hit a new record peak of 24,635.05.
Thanks to the bull run in equities, the market capitalisation of BSE-listed firms surged to a lifetime high of Rs 4,55,06,566.48 crore ($5.45 trillion). In two days of market rally, investors’ wealth jumped Rs 3.85 lakh crore.
Among Sensex shares, State Bank of India was the biggest gainer, rising by 2.55 per cent after the bank announced a hike in MCLR-based lending rates for various tenors. NTPC, UltraTech Cement, Mahindra & Mahindra, Bajaj Finance, Tata Motors, Maruti and ITC were the other major winners.
On the other hand, Asian Paints, Tata Steel, Axis Bank, JSW Steel, Tech Mahindra and Tata Consultancy Services were among the laggards.
Among PSU banks, Indian Overseas Bank rose by 7.35 per cent. Canara Bank, Punjab National Bank, Uco Bank, Bank of Baroda and Union Bank also advanced. Bank of Maharashtra (BoM) rallied 5.56 per cent
In the broader market, the BSE midcap gauge jumped 0.95 per cent and smallcap index climbed 0.21 per cent.
Among the indices, oil & gas rallied 2.32 per cent, energy (1.61 per cent), realty (1.40 per cent), utilities (1.09 per cent) and healthcare (1 per cent). Industrials, IT, tech and capital goods were the laggards.
As many as 2,035 stocks advanced while 2,005 declined and 128 remained unchanged on BSE.
Among Nifty sectoral indices, Nifty PSU Bank was the lead gainer, rising by 3.11 per cent. Nifty CPSE was up 1.56 per cent.
Foreign Institutional Investors (FIIs) bought equities worth Rs 4,021.60 crore on Friday, according to exchange data.
