The Sensex surged 765 points while the Nifty cruised past the 16900-level on Monday as equity benchmarks maintained their record-setting spree on all-round buying amid supportive global cues. A firm trend in the rupee, which rallied 40 paise against the dollar, added to the momentum.
After touching a lifetime high of 56958.27 during the day, the 30-share BSE Sensex ended 765.04 points, or 1.36 per cent, higher at its new closing peak of 56889.76, extending its winning run for the third session.
The broader NSE Nifty advanced for the sixth consecutive day, surging 225.85 points or 1.35 per cent to its record closing of 16931.05. It touched an all-time intra-day high of 16951.50.
The Nifty has closed at fresh lifetime highs in five of the previous six sessions.
Bharti Airtel was the top performer in the Sensex pack, rallying 4.44 per cent, after the company’s board raised up to Rs 21,000 crore via a rights issue.
Investors were richer by Rs 3.56 lakh crore, with the market capitalisation of all BSE-listed companies reaching a record Rs 247.30 lakh crore.
“Domestic equities skyrocketed on strong global cues with the benchmark Nifty just one notch away to surpass the 17000 mark,” said Binod Modi, head-strategy at Reliance Securities.
Dovish commentary from the US Federal Reserve chairman in the Jackson Hole Symposium lifted investors’ sentiments globally, he noted.
“Global markets strengthened as the anxiety over the Jackson Hole symposium subsided following the dovish tone of Fed chairman Jerome Powell with his wait-and-see approach giving reassurance that the easy money policy will continue this year with a smaller rate of tapering,” said Vinod Nair, head of research at Geojit Financial Services.
Elsewhere in Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul ended with gains.
Equities in Europe were also trading in the positive zone in the afternoon session.
International oil benchmark Brent crude slipped 0.20 per cent to $71.56 per barrel.
The rupee surged 40 paise to close at 73.29 against the dollar, marking its third straight session of gains. The local unit has appreciated by 95 paise against the greenback in three days.