Nifty soars to record closing high, extends gains to seventh straight day

Domestic equity benchmarks registered sharp gains on Monday amid strong buying interest in financial, metal and consumer goods stocks. Heavyweights , , ICICI Bank and ITC were in high demand, boosting the sentiment on Dalal Street.

The S&P BSE Sensex index rose 514.56 points or 1.00 per cent to end at 51,937.44 and the broader NSE Nifty 50 benchmark settled at a record 15,582.80, up 147.15 points or 0.95 per cent from its previous close.

Among the blue-chip stocks, JSW Steel was the top gainer, ending 3.25 per cent higher. ICICI Bank, Reliance Industries, Bharti Airtel, Tata Steel and Dr Reddy’s were among other top performers.

On the other hand, M&M was the top laggard, down 4.36 per cent. Adani ports, HDFC Life, Indian Oil and IndusInd Bank were among other losers.

Declining Covid-19 cases in the country supported investors’ mood. India on Monday reported its lowest daily increase in new coronavirus infections since April 11 at 152,734, while deaths rose by 3,128.

Analysts awaited the country’s official GDP data for the January-March period due later in the day.

THIS IS A DEVELOPING STORY. MORE TO COME…