Sensex scales new closing peak; Infosys rallies 3%

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Sensex

Mumbai: Equity benchmark BSE Sensex on Monday rose 137 points to hit a new closing high of 40,302, led by gains in IT, metal and financial stocks amid positive global cues.

Extending its gains for the seventh consecutive session, the 30-share Sensex settled 136.93 points, or 0.34%, higher at 40,301.96. The index also hit its lifetime intra-day high of 40,483.21.

The broader NSE Nifty too advanced 50.70 points, or 0.43%, to close at 11,941.30.

Top gainers in the Sensex pack included Infosys, Vedanta, Tata Steel, ONGC, and ICICI Bank, rising up to 3.05%.

HDFC too gained 2.48% after the mortgage lender said its consolidated net profit jumped over 76.3% to Rs 10,748.69 crore in the second quarter ended September 2019.

On the other hand, Maruti, Hero MotoCorp, IndusInd Bank, Tata Motor and PowerGrid lost up to 2.54%.

According to experts, better liquidity from foreign funds, de-escalation in geopolitical risks and focus on upcoming reforms to revive growth buoyed domestic investor sentiment.

Globally, bourses in Shanghai, Hong Kong and Seoul settled higher on optimism over the US-China trade deal after China’s commerce ministry on Saturday announced that top Chinese and US trade negotiators “reached consensus on principles”.

Exchanges in Europe were also trading on a positive note in their respective early deals.

Meanwhile, the Indian rupee appreciated by 7 paise to 70.73 against the US dollar intra-day.

Brent crude futures, the global oil benchmark, rose 0.28% to $61.86 per barrel.

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