Stalwarts propel indices
Key stock indices continued with their record-breaking run on Monday, following brisk buying in heavyweights such as TCS, Reliance Industries and ONGC.
- Published 23.01.18
Mumbai: Key stock indices continued with their record-breaking run on Monday, following brisk buying in heavyweights such as TCS, Reliance Industries and ONGC.
While the Nifty 50 came close to the 11000-mark, ending at 10966.20, the BSE Sensex jumped nearly 287 points to finish at 35798.01, all-time closing highs for both the indices.
According to market mavens, the current stock market rally is fuelled by good quarterly numbers, recent cut in GST rates for some products and abundant liquidity.
Though experts are advising retail investors to exercise caution while taking fresh positions at this point of time, it is felt that some more steam may be left in this pre-budget rally.
The 30-share Sensex, after opening strong, continued its momentum to hit a record high of 35827.70.
Though the index came off its highs due to profit-booking, it ended 286.43 points, or 0.81 per cent, higher at 35798.01, breaking its previous record close of 35511.58 reached on Friday.
The NSE Nifty hit a record intra-day high of 10975.10, before finishing at 10966.20, up 71.50 points, or 0.66 per cent. Its previous closing high was 10894.70.