Bull Run Continues On Dalal Street; Sensex, Nifty Settle At Record Highs

Bull Run Continues On Dalal Street; Sensex, Nifty Settle At Record Highs

The stock markets in Monday’s session rose to record highs led by broad-based buying interest amid strong global cues. Gains in today’s session were led by IT shares. The IT index on the BSE rose nearly 3 per cent on the back of strong gains in IT heavyweights like TCS, Infosys and Wipro. Earlier in the day, the trading was halted on the National Stock Exchange after 45 minutes of trading as the exchange was hit by a technical glitch. However, after fixing the glitch, the trading on the National Stock Exchange resumed at 12:30 pm and the benchmark Nifty rose to an all-time high of 9,782.15 and the Sensex rose as much as 408 points to hit high of 31,768.39.

Buying was visible across the sectors. IT shares were among the star performers in today’s session with IT bellwethers TCS, Infosys and Wipro contributing as much as 125 points to the gain in the Sensex. Banking, metal, oil & gas, power, capital goods and pharma shares also witnessed good buying interest with respective indices advancing over a per cent each.

From The Nifty basket of shares, 46 ended higher while only 5 closed lower. Bharti Airtel was the top Nifty gainer, up 5 per cent at Rs. 405.70 after the company unveiled a plan to invest Rs. 2,000 crore in 3 years to revamp customer touch points under project ‘Next’. Lupin advanced 2.82 per cent to settle at Rs. 563.70 after it received nod from the US health regulator to market its Flucytosine capsules used for treatment of fungal infections.
The company has received final approval to market its Flucytosine capsules USP, in the strengths of 250 mg and 500 mg, from the United States Food and Drug Administration (USFDA), Lupin said in a statement.

Sun Pharma, Infosys, TCS Wipro, Tata Motors, IndusInd bank, State Bank of India, HCL Tech, Larsen & Toubro and ONGC were also among the gainers, up 2-4 per cent each.

The broader markets underperformed the benchmark indices with BSE mid-cap and small-cap indices rising 0.6 and 0.4 per cent each respectively.

The overall market breadth was bullish as 1,555 shares ended higher while 1,089 closed lower on the BSE.