In early trade on Monday, the stock markets witnessed a significant rally, with the 30-share BSE Sensex climbing 290.46 points to reach a robust 80,809.80.
Simultaneously, the Nifty surged by 95.85 points, achieving a new record peak of 24,598. This bullish trend highlights strong investor confidence and market optimism, driven by positive economic indicators and robust corporate earnings.
Analysts attribute this upward trajectory to renewed investor interest in key sectors, buoyed by favourable domestic and global market conditions.
Notably, HCL Technologies climbed over 3 percent after the IT services company reported a 20.4 percent rise in consolidated net profit to Rs 4,257 crore for the quarter ending in June.
The company also provided a revenue growth guidance of 3-5 percent for FY25, driven by GenAI diversification and strong operational execution.
Major winners among the Sensex pack included UltraTech Cement, Tata Motors, Maruti, NTPC, Mahindra & Mahindra, Tata Consultancy Services, and Kotak Mahindra Bank.
Tata Steel, Asian Paints, Power Grid, and Axis Bank were among the laggards in early trading.
In the broader Asian markets, Seoul and Shanghai traded higher, while Hong Kong was quoted lower. Meanwhile, US markets ended positively on Friday.
Foreign Institutional Investors (FIIs) bought equities worth Rs 4,021.60 crore on Friday, according to exchange data. Additionally, the global oil benchmark Brent crude climbed 0.20 percent to USD 85.20 a barrel.
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