Equity benchmark indices rallied in early trade on Monday, with the Nifty hitting its new all-time high and the Sensex climbing 290 points, helped by buying in IT stocks and fresh foreign fund inflows.

A rally in global markets also added to the optimistic trend in equities.

The 30-share BSE Sensex climbed 290.46 points to 80,809.80 in early trade. The NSE Nifty rallied 95.85 points to hit a new record peak of 24,598.

Among the Sensex pack, HCL Technologies climbed over 3 per cent after the IT services company on Friday posted a 20.4 per cent rise in consolidated net profit to Rs 4,257 crore for the June-ended quarter and gave a revenue growth guidance of 3-5 per cent for FY25 on GenAI diversification and strong operational execution.

UltraTech Cement, Tata Motors, Maruti, NTPC, Mahindra & Mahindra, Tata Consultancy Services and Kotak Mahindra Bank were among the other major winners.

Tata Steel, Asian Paints, Power Grid and Axis Bank were among the laggards.

In Asian markets, Seoul and Shanghai were trading higher while Hong Kong quoted lower.

US markets ended in positive territory on Friday.

Foreign Institutional Investors (FIIs) bought equities worth Rs 4,021.60 crore on Friday, according to exchange data.

Global oil benchmark Brent crude climbed 0.20 per cent to USD 85.20 a barrel.

The BSE benchmark jumped 622 points or 0.78 per cent to settle at a record closing level of 80,519.34 on Friday. During the day, it zoomed 996.17 points or 1.24 per cent to hit an all-time high of 80,893.51.

The NSE Nifty surged 186.20 points or 0.77 per cent to settle at a record closing high of 24,502.15.

Except for the headline, this story has not been edited by The Telegraph Online staff and has been published from a syndicated feed.