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Gathering over 650 points, the benchmark Sensex stock index hit its all-time high intraday in early trading on Monday, thanks to widespread gains amid a massive influx of foreign funds and positive signals from global markets.
After hitting its lifetime high of 42,566.34 in the opening session, the 30-stock BSE index traded 627.21 points or 1.50 percent higher at 42,520.27 .
Likewise, the wider NSE Nifty also claimed a new high of 12,451.80. He later traded with 178 points or 1.45 percent gain at 12,441.55.
All Sensex components were trading in positive territory. ICICI Bank was the first winner, with an increase of around 3 percent, followed by Infosys, HCL Tech, Axis Bank, Bharti Airtel and Bajaj Finance.
In the previous session, Sensex finished 552.90 points or 1.34% higher to 41,893.06, and the wider NSE Nifty jumped 143.25 points or 1.18% to 12,263.55.
Foreign institutional investors have remained net buyers in the capital market as they bought shares worth Rs 4,869.87 crore on Friday, according to provisional currency data.
“The trade set up in the domestic market appears to be strong on favorable global signals,” said Arjun Yash Mahajan, director of institutional activities at Reliance Securities.
Financials mainly supported the domestic market recovery last week, mainly driven by strong second quarter figures, stable asset qualities and improved collection efficiency, he added. .
Wall Street posted its best weekly performance last week since April, with major U.S. indexes posting weekly gains of 7-9%, he said.
Democrat Joe Biden defeated incumbent US President Donald Trump in the hotly contested presidential election.
Most market participants are hopeful that the Biden regime would be good news for Indian businesses, especially IT, and domestic financial markets.
Returning to domestic factors, investors will also focus on industrial production and inflation data, which is expected to be released on Thursday.
Elsewhere in Asia, the Shanghai, Hong Kong, Seoul and Tokyo stock exchanges were trading up to 2.41 percent higher in mid-session trades.
Meanwhile, the international benchmark Brent crude was trading 2.66 percent higher at $ 40.50 a barrel.
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