Mumbai: On Monday, the Benchmark Sensex reached a new record high, gaining 443 points, while the Nifty closed above the 24,100 mark. The rise was attributed to increased buying in banking and IT shares, in line with gains in Asian and European markets.
The BSE Sensex settled at 79,476.19, marking a 0.56% increase and hitting an all-time high.
Similarly, the broader Nifty rose by 131.35 points, settling at a fresh lifetime high of 24,141.95. Notable gainers among Sensex shares included Tech Mahindra, UltraTech Cement, and Tata Consultancy Services, while NTPC, State Bank of India, and Larsen & Toubro were among the laggards. In the global market, Asian and European markets saw gains, with US markets ending lower on Friday.
The optimism in the market was fuelled by the reduction in US PCE inflation, raising hopes for a rate cut by the US Fed in September. Additionally, Brent crude climbed to USD 85.43 a barrel, and FIIs offloaded equities worth ₹23.09 crore on Friday.
