JOIN USIndian markets continued to scale up and hit new highs on Monday despite technical issues that hit trading at NSE.
While the S&P BSE Sensex zoomed 355 points (1.13%), its biggest single day gain in nearly six-weeks to close at 31,715.64, the Nifty 50 closed up 105.25 points (1.09%) above the 9,700-mark for the first time at 9,771.05.
“Key benchmark indices in India started the week on a buoyant note and extended gains to hit fresh intra-day highs in mid-afternoon trade on steady buying in select index heavyweights. Upbeat global stocks bolstered domestic sentiment after investors became more 'risk-on' with both the benchmark Sensex and the Nifty finally closing the day with gains of over 1%,” BNP Paribas Mutual Fund senior fund manager- equities Karthikraj Lakshmanan said.
On NSE, 109 securities hit new 52-week highs on a day when the markets also scaled new highs. Some of the major securities which hit new 52 week high included Adani Ports and Special Economic Zone, Bharti Airtel, Avenue Supermarts, Godrej Industries, HDFC Bank, HUL, ITC and Maruti Suzuki. A total of 22 securities hit new 52-week low on NSE.
Bharti Airtel led the list of gainers on Nifty 50, ending up 5.13% at Rs 405.70 with volumes of over 18.94 lakh shares. Some of the other gainers included TCS, Wipro, Bank of Baroda, Coal India, Lupin, Sun Pharma and Infosys. Losers were far and few with only five out of the 50 scrips on Nifty 50 ending in the red. M&M led the list of losers, ending down 0.63% at Rs 1,367.40. Other losers included Zee, ITC, HUL and Maruti.