Sensex jumps 617 points to hit record closing high; Nifty settles at 15,116 – Times of India

NEW DELHI: Equity indices continued to surge for the sixth straight session on Monday with the benchmark BSE sensex rising over 600 points led by gains in auto and metal stocks.
The 30-share BSE index jumped 617 points or 1.22 per cent to close at fresh peak of 51,349. During the day, the barometer touched an all-time high of 51,523.
The broader NSE Nifty settled 192 points or 1.28 per cent higher at 15,116.
M&M, Bajaj Finserv, Infosys, Bharti Airtel, PowerGrid and ICICI Bank were the top gainers in the sensex pack rising as much as 7.32 per cent.
While HUL, Kotak Bank, Bajaj Finance, and ITC were the major losers falling up to 1.43 per cent.
On the NSE platform, sub-indices Nifty Auto, Metal and IT gained up to 3.17 per cent.
According to experts, a growth-focused, high-spending budget unveiled last week has powered the stock market to multiple all-time highs.
Besides, the Covid-19 vaccination drive and strong corporate earnings have also aided the upbeat sentiment.
“High Capex and bold reforms announced in the Union Budget emboldened investors. It indicates that recent uptick in high-frequency key economic data and rebound in corporate earnings is likely to sustain in subsequent quarters.
“Additionally, RBI supporting the pro-growth strategy of government by maintaining liquidity at required levels and balancing bond yields bodes well,” he added.
Meanwhile, foreign portfolio investors (FPIs) were net buyers in the capital market as they purchased shares worth Rs 1,461.71 crore on Friday, as per exchange data.
(With inputs from agencies)