Heavyweights Bharti Airtel, SBI, and M&M were top gainers in the BSE's Benchmark as Indian frontline indices traded at an all-time high on Monday.
Early trade saw Sensex and Nifty making a new all-time high of 84,862 and 25,911 respectively.
At 9.46 am, Sensex was up by 259 points or 0.31% at 84,803 and Nifty was up by 110 points or 0.43% at 25,903.
Buying was also seen in midcap and smallcap stocks. Nifty midcap gained 305 points or 0.51% to 60,514 while Nifty smallcap increased by 154 points or 0.80% to 19,486. Sectoral Indices: Auto, PSU Bank, fin service, metal, realty, oil & gas have been the top contributors. IT and Pvt Bank have been the laggards.
Among the top gainers in the Sensex are Bharti Airtel, M&M, SBI, NTPC, Ultratech Cement, Tata Steel, Kotak Mahindra Bank, Maruti Suzuki, Titan, Nestle, Bajaj Finserv, and HUL. The significant losers in the day include names from the list of ICICI Bank, Wipro, HCL Tech, Infosys, IndusInd Bank, and JSw Steel.
Choice Broking has commented, "Asian markets traded higher on Monday, buoyed by renewed optimism over the latest round of interest rate cuts. The People's Bank of China issued a cut in its 14-day reverse repo rate to loosen monetary conditions. Even though the move was seen to be providing a positive impetus, the positive effects were moderated as the PBOC was said to have kept its benchmark loan prime rate unchanged recently."
The dollar firmed as investors digested the Federal Reserve's 50-basis-point cut midweek that started a rate-reducing cycle, and Wall Street closed flat on Friday, narrowly retaining the previous session's record-high close for the Dow and S&P 500. Early trading on Monday saw oil prices rise slightly, driven by worries that Middle East conflict could affect supply in this crucial production area, along with expectations that last week's US interest rate cut will bolster demand, the broking house said.
FIIs/FPIs purchased shares to the tune of a net sum of Rs 14,064.05 crore and domestic institutional investors sold shares worth a net of Rs 4,427.08 crore on September 20 as per provisional figures.
Read also| FIIs Invest ₹14,064 Crore in Indian Equity Market This Week, Trend Expected to Continue
