Indian Stocks hit record high, Sensex jumps 1421pts

Indian shares rallied on record high in the afternoon session, Monday, and it marked the sharpest intraday percentage gain in over 3 years. At close, the Sensex was up 3.75%  or 1,421.90 points at 39352.67, while NSE Nifty was up 3.69% or 421.10 points at 11828.30

All the Nifty sectoral indices advanced, led by the Nifty PSU Bank Index’s 7.88% rally, followed by Nifty infra, auto, banking, financial, energy, FMCG, metal and Pharma which ended  3 to 4 percent gains.

Major gainers on the Nifty were Adani Ports, Indiabulls Housing, IndusInd Bank, SBI and Tata Motors, while losers were Dr Reddy’s Labs, Zee Ent, Bajaj Auto, Tech Mahindra and Infosys.

Top gainers in the Sensex pack include IndusInd Bank, SBI, TataMotors, YesBank and L&T, rising up to 8.64%, while losers include Bajaj Auto and Infosys.

The Nifty bank index extended rallied 4.45% with heavy buying in Bank of Baroda, IndusInd Bank, SBI and Yes Bank.  The Auto index surged 4.16% as heavy buying was seen in Motherson Sumi, Bharat Forg, Tata Motors and TVS Motors.

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