Sensex adds 442 points; Nifty hits 11,700 for first time, ends at 11,692; RIL, Infosys, ICICI Bank shine

Share Market Today: Indian stock markets (Sensex and Nifty) ended higher on Monday with BSE Sensex and NSE Nifty concluding at their respective closing record highs foll0wing the strong gains in Infosys, ICICI Bank and RIL shares. The benchmark Sensex added 442.31 points or 1.16% to close at an all-time high 38,694.11 while NSE Nifty crossed 11,700 mark for the first time ever in stock market history before closing at a lifetime peak of 11,691.95, up 134.85 points or 1.17%.

Indian markets soared heavily in the afternoon deals on Monday with BSE Sensex rallying 484 points and NSE Nifty trading very near to the psychological mark of 11,700. A sustained uptick in the heavyweight shares of Infosys, ICICI Bank, Reliance Industries, SBI, ITC, Kotak Bank, L&T, HDFC Bank, IndusInd Bank, HDFC and Axis Bank steered the headline indices to newer record highs. Shares of Sun Pharmaceuticals were the only losers among all the components of BSE Sensex index today.

The domestic stock markets went up further with BSE Sensex breaching 38,600 and NSE Nifty climbing the 11,650-mark for the first time in stock market history in the mid-morning deals following the sharp upmove in RIL, HDFC Bank, ICICI Bank, ITC, Infosys, HDFC and SBI shares. Indian equities started on a positive footing on Monday with tracking the upbeat Wall Street and positive Asian cues.

Asian shares rose early on Monday, taking support from Wall Street’s gains on Friday after US Federal Reserve Chairman Jerome Powell said a gradual approach to raising rates was best to protect the US economy and job growth, Reuters reported. Powell’s comments, which were in line with market expectations, helped to push the S&P500 index and Nasdaq Composite to record highs on Friday, cementing the S&P’s longest-running bull market, as defined by some investors, the report added.

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