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Mumbai: The Sensex closed above 51,000 points for the first time while the Nifty smashed past the 15,100-mark on Monday as the post-Budget rally continued for the sixth session amid strong corporate results and robust foreign fund inflows.
A persistently bullish trend in global markets further bolstered risk appetite, traders said.
After touching a lifetime high of 51,523.38 during the day, the 30-share BSE Sensex ended 617.14 points or 1.22 per cent higher at its record closing peak of 51,348.77.
Similarly, the broader NSE Nifty surged 191.55 points or 1.28 per cent to its lifetime closing high of 15,115.80. It touched an intra-day record of 15,159.90.
Investor wealth climbed by nearly Rs 2.50 lakh crore, with the market capitalisation of all BSE-listed companies reaching Rs 202.82 lakh crore.
Mahindra and Mahindra (M&M) was the top gainer in the Sensex pack, soaring 7.23 per cent, followed by Bajaj Finserv, Bharti Airtel, PowerGrid, Infosys and ICICI Bank.
On the other hand, HUL, Kotak Bank, Bajaj Finance, ITC, Bajaj Auto amd Sun Pharma closed in the red, dropping up to 1.43 per cent.
"Strong global cues supported the domestic rally. PSU Banks, which was on a bull run paused today with some correction noticeable in FMCGs.
"The overall market is maintaining its buoyancy with rally in all sectors especially auto, IT and metals. Improved domestic outlook is encouraging sustained FPI inflows," said Vinod Nair, Head of Research at Geojit Financial Services.
Sector-wise, BSE auto, metals, industrials, telecom, utilities and teck indices rallied as much as 3.07 per cent, while FMCG index closed with losses.
In the broader markets, the BSE midcap and smallcap indices spurted up to 1.53 per cent.
Global shares marched to record highs on hopes that US President Joe Biden's USD 1.9 trillion COVID-19 relief package will be passed by lawmakers soon.
Elsewhere in Asia, bourses in Shanghai, Hong Kong and Tokyo ended with significant gains, while Seoul was in the red.
Stock exchanges in Europe were trading on a positive note in mid-session deals.
Meanwhile, the global oil benchmark Brent crude crossed the USD 60 per barrel mark after more than a year on improving demand prospects.
The rupee fell by 4 paise to close at 72.97 against the US dollar, weighed by a strong dollar sentiment and high demand for the greenback from importers.
Gold Gains Rs 94, Silver Jumps Rs 340
Gold prices on Monday gained Rs 94 to Rs 46,877 per 10 gram, supported by recovery in international prices, according to HDFC Securities.
In the previous trade, the precious metal had closed at Rs 46,783 per 10 gram.
Silver also jumped Rs 340 to Rs 68,391 per kg, from Rs 68,051 per kg in the previous trade.
In the international market, both gold and silver were trading with gains at USD 1,815 per ounce and at USD 27.16 per ounce.
HDFC Securities Senior Analyst (Commodities) Tapan Patel said, "Gold prices traded up from support levels on disappointing US payroll data and stimulus hopes."
Motilal Oswal Financial Services Vice-President (Commodities Research) Navneet Damani said, "Gold prices edged higher on as weaker-than-expected US jobs data re-ignited concerns over a recovery in the world's largest economy, pressuring the dollar and boosting bullion's appeal."
Indian Rupee Slips By 4 Paise To 72.97 Against US Dollar
The rupee dropped by 4 paise to close at 72.97 against the US currency on Monday due to a strong dollar sentiment and dollar buying by importers.
However, sustained foreign fund inflows and strong gains in equity markets restricted the rupee's fall, traders said.
At the Interbank Foreign Exchange (forex), the rupee opened sharply higher at 72.86 against the dollar. During the session, the unit touched a high of 72.80.
However, the rupee pared gains to close lower by 4 paise at 72.97 due to dollar buying by importers. On Friday, the rupee had appreciated by 3 paise to close at 72.93 against the US dollar.
After touching a lifetime high of 51,523.38 during the day, the 30-share BSE index ended 617.14 points or 1.22 per cent higher at its record closing peak of 51,348.77.
The broader NSE Nifty surged 191.55 points or 1.28 per cent to its record 15,115.80.
The dollar index, which gauges the greenback's strength against a basket of six currencies, surged 0.25 per cent to 91.91.
Foreign portfolio investors (FPIs) were net buyers in the capital market as they purchased shares worth Rs 1,461.71 crore on Friday, as per exchange data.
Meanwhile, the global oil benchmark Brent crude spiked 0.69 per cent to USD 59.97 per barrel.
"The Indian rupee ended marginally weak against the US currency, as rumoured buying from the Reserve Bank of India and rebound of the US Dollar this Monday outweighed the impact of positive regional cues," Sriram Iyer, Senior Research Analyst at Reliance Securities, said.
Following the RBI's intervention, the one-year forward premium jumped to Rs 3.70 this Monday, the highest since October 2016, while the implied yield rose to 5.07 per cent, the highest since May 2017, he added.
"On the international front, the US Dollar was higher against major currencies on Monday afternoon session in Asia as traders waited for more data on the US economy," Iyer said.
(This Story Is A Compilation Of PTI Stories)
