Nifty 50 and Sensex ended at a fresh closing record high on Monday. The gains were led by SBI, NTPC, and auto stocks.
Sensex surged 145 points and closed at 80,665. Nifty gained 84 points and ended at 24,587.
Gainers and losers
From the Sensex stocks, SBI, NTPC, and UltraTech Cement were the top gainers, rising 2-2.5%. M&M, Bajaj Finance, Tata Motors, and Maruti Suzuki also closed with gains, while Asian Paints, Tata Steel, Axis Bank, JSW Steel, and Tech Mahindra ended with losses.
Sectoral performance
Most IT stocks ended the day in negative territory after rising up to 4.5% in early trade. Tech Mahindra, TCS, and Infosys closed up to 0.4% lower, while HCL Tech was the only Sensex IT stock to close 0.56% higher.
All indices closed higher except for Nifty IT. Meanwhile, Nifty PSU rose over 3%, while Nifty Auto, Media, Pharma, Realty, Healthcare, and Oil & Gas closed 1-2% higher.
Experts View
Vinod Nair, Head of Research at Geojit Financial Services said, “The Indian market is optimistic due to positive expectations from the upcoming Union Budget, strong FII inflows, and robust IT sector results.”
Deepak Jasani, Head of Retail Research at HDFC Securities, noted, “Nifty formed a doji, indicating caution at higher levels, and is likely to stay in the 24494-24635 range in the near term.”
