JOIN USPositive global cues coupled with upbeat domestic sentiment helped the S&P BSE Sensex and the Nifty Bank Index end at a record highs on Monday.
While the Sensex ended 255.17 points (0.82%) higher at 31,311.57, the Nifty 50 closed up 69.50 points (0.72%) at 9,657.55. The Nifty Bank gained over 239 points (1.02%) to end at a record high of 23,742.15.
“Recent uncertainty surrounding the scheduled GST rollout on July 1, 2017, had pushed some investors in the corner. However, a GST council meeting over the weekend has reportedly addressed certain nagging issues and has put to rest speculation over a possible delay in the GST rollout. Investors responded to this update with cheer, which is evident in the positive activity that markets witnessed on Monday,” BNP Paribas Mutual Fund senior fund manager- equities Karthikraj Lakshmanan said.
Tata Steel was the top gainer on Nifty 50, ending up 3.68% at Rs 520.40 with volumes of over 95.93 lakh. Some of the other gainers included Hindalco, Adani Ports, Vedanta, Bosch, Larsen & Toubro, Axis Bank and Power Grid. As far as losers are concerned, Dr Reddy’s topped the list ending down 1.25% at Rs 2649.