Market Updates: Sensex, Nifty advances to new record highs led by RIL, Infosys & HUL

On Monday, The Sensex rose as much as 350 points to hit a record high of 58,480.20 and the Nifty 50 index touched an all-time excessive of 17,421.55.

On Monday, the Indian equity benchmarks, advanced to new record highs, driven by profits in Reliance Industries (RIL), Hindustan Unilever (HUL), Larsen & Toubro, Infosys, Axis Bank, ICICI Bank, and Bharti Airtel. The Sensex rose as much as 350 points to hit a record excessive of 58,480.20 and the Nifty 50 index touched an all-time excessive of 17,421.55.

A strong trend in other Asian markets additionally boosted the bullish sentiment amongst investors. Asian stocks edged better on Monday as a disappointing US payroll report promised to keep policy super-loose for longer, but additionally clouded the outlook for global growth and inflation.

As of 9:23 am, Sensex became up 282 points at 58,412 and Nifty 50 index became up 83 factors at 17,405. A holiday in the United States made for thin conditions and stored MSCI’s broadest index of Asia-Pacific shares outdoor Japan to a small benefit of 0.2 percent, though that was the highest since late July.

Japan’s Nikkei introduced 1.7 percent, extending a rally on hopes a brand new high minister there could bring added fiscal stimulus. Chinese blue chips received 1.3 percent amid the hypothesis Beijing would additionally be adding stimulus via fiscal and monetary policy.

Back home, buying was seen across the board at seventeen of 19 zone gauges compiled via way of means of the BSE were trading better led by the S&P BSE Energy index’s 2.5 percent gain. Capital Goods, Consumer Durables, Oil & Gas, Power, Realty, Industrials, and Consumer Discretionary Goods & Services indices additionally rose among 0.5-1.2 percent. On the alternative hand, metallic and select healthcare stocks have been witnessing slight selling pressure.

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