Sensex and Nifty reached record highs on early Monday amid optimism in global markets and foreign fund inflows. Buying in index major industries also fueled the rally in equities.
BSE Sensex reached a record high of 74,658.95, while the Nifty climbed to its new all-time peak of 22,623.90 on Monday.
Tata Steel, Bajaj Finserv, Power Grid, Reliance Industries, Axis Bank and JSW Steel were the major gainers in India.
In Asian markets, Seoul and Tokyo were trading in the positive territory, Shanghai and Hong Kong quoted lower, and Wall Street ended with gains of Friday.
Foreign Institutional Investors (FIIs) bought equities worth ₹ 1,659.27 crore on Friday, according to exchange data.
According to global oil benchmark, Brent, crude declined 1.61 per cent to USD 89.71 a barrel.
Optimism prevails on Dalal Street as investors prioritize the anticipation of strong Q4 corporate profits in India over the Fed's rate-cut plans," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.
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