SENSEX RISES 145 POINTS TO SCALE FRESH PEAK; NIFTY ENDS ABOVE 16,55O

MUMBAI: Equity benchmark Sensex jumped 145 points to end at a fresh high on Monday tracking gains in index majors Reliance Industries, Bajaj Finance and Tata Steel.

Despite opening on a choppy note, the 30-share index ended 145.29 points or 0.26% higher at a new peak of 55,582.58. It touched a record intra-day high of 55,680.75. Similarly, the broader NSE Nifty advanced 33.95 points or 0.21% to a fresh high of 16,563.05. During the day, it rose to new intra-day peak of 16,589.40.

Tata Steel was the top gainer in the Sensex pack, rallying nearly 4% , followed by Bajaj Finance, M&M, Bajaj Finserv and Reliance Industries.

On the other hand, Maruti, Bajaj Auto, PowerGrid ad UltraTech Cement were among the laggards.

“Domestic benchmark indices extended gains today, while midcap and smallcap stocks remained under pressure” said Binod Modi, head strategy at Reliance Securities.

Strong rebound in metals followed by financial services aided Nifty. Additionally, sharp recovery in Reliance Industries after media reports stating $25 billion Aramco deal is on advanced stage also supported benchmark indices, he noted.

Sectorally, BSE metal, energy, oil and gas, FMCG and finance indices rose up to 1.79%, while telecom, auto, capital goods and power indices fell up to 0.99%.

Further, strong June quarter performance reported by metal companies and steady pricing in international markets aided metal stocks to see sharp rebound, Modi added.

Elsewhere in Asia, bourses in Hong Kong, Tokyo and Seoul ended with losses, while Shanghai was positive.

Equities in Europe were also trading on a negative note in mid-session deals.

Meanwhile, international oil benchmark Brent crude fell 1.33% to $69.65 per barrel.