Sensex crosses 49,000 as new high, Nifty tops 14,420

The Indian market reached a fresh record high on Monday, with the S&P BSE Sensex mounting to 49,000 for the first time ever, on the back of favourable global cues.

The S&P BSE Sensex gained 400 points, or 0.8 per cent, at 49,190 levels and the Nifty50 index topped the 14,420 level. Technology stocks were the lead Sensex gainers, with Infosys, HCL Tech, and TCS rising 3%, 2 and 1%, respectively. Tata Consultancy Services’ profit jumped 7% YoY in the December quarter to Rs 8,701 crore, according to the results announced post market hours on Friday.

On the other hand, shares of Avenue Supermarts gained 2% after the first posted a 16% jump in Q3 profit.

All the Nifty sectoral indices, except Nifty Metal index, were trading higher, led by Nifty IT index, up 2%.