Banking, telecom stocks lead
Market benchmark Sensex and Nifty on Monday advanced up to 0.36% to close at fresh record levels largely on the back of gains in banking, energy and telecom stocks.
The 30-share BSE Sensex also hit an all-time high of 37,805.25 in day trade, breaking its previous intra-day record level of 37,711.87 touched on August 1, as index major Reliance Industries, ICICI Bank and Axis Bank advanced.
The barometer closed up by 135.73 points, or 0.36%, at 37,691.89, its all time closing high, even as 17 of its constituents ended in the red.
The broader NSE Nifty advanced 26.30 points or 0.23% to end at a historic high of 11,387.10, bettering its previous record close of 11,360.80 hit on Friday.
The 50-share index breached the 11,400 mark for the first time in day trade and touched record intra-day high of 11,427.65 on gains in consumer durables, PSU, metal and auto stocks.
Fresh buying by domestic institutional investors (DIIs) and better-than-expected June quarter results from some blue-chip companies boosted investor sentiment, brokers said.
Asian markets ended mixed after initial gains as investors continued to monitor the U.S.-Sino trade spat.
Source: Read Full Article