The BSE Sensex crossed the monumental 75,000-point barrier for the very first time during early trading hours, while the Nifty soared to reach a remarkable new pinnacle.
The surge in the market, particularly in the early session, was predominantly fueled by robust buying activity in the IT sector.
The 30-share BSE Sensex exhibited remarkable resilience, climbing by 381.78 points to an unprecedented high of 75,124.28. Similarly, the NSE Nifty surged ahead by 99 points, achieving an all-time high of 22,765.30.
Key contributors to the Sensex rally included prominent names such as Infosys, Tech Mahindra, Tata Consultancy Services, HCL Technologies, Tata Motors, Wipro, ICICI Bank, and Nestle, which witnessed significant gains.
While, JSW Steel, Kotak Mahindra Bank, Reliance Industries, and Larsen & Toubro found themselves among the underperformers.
In Asian markets, Tokyo and Hong Kong exhibited positive trends, while Seoul and Shanghai experienced downturns. The preceding day on Wall Street ended with a mixed sentiment.
Foreign Institutional Investors (FIIs) were observed to have offloaded equities worth Rs 684.68 crore on Monday, according to exchange data.
In the global oil market, Brent crude, a significant benchmark, observed a modest increase of 0.19 percent, reaching USD 90.55 per barrel.
Reflecting on the market's performance, V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, commented, "The new records set by the market yesterday confirm the bullish market undertone. A healthy and desirable trend in the market movement yesterday was the outperformance of the large caps. This trend is likely to continue."
On the previous trading day, the BSE benchmark surged by 494.28 points or 0.67 percent, settling at a new closing peak of 74,742.50. Similarly, the NSE Nifty climbed by 152.60 points or 0.68 percent, reaching 22,666.30.
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