Markets scale fresh peaks; Sensex rallies 617 pts to close above 51k-mark

PTI, Feb 8, 2021, 4:27 PM IST

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Mumbai: Extending its winning streak to the sixth session, equity benchmark Sensex rallied 617 points to end above the 51,000-mark for the first time on Monday, tracking strong gains in Infosys, ICICI Bank and Reliance Industries amid a positive trend in global markets.

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.

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.

Mahindra and Mahindra (M&M) was the top gainer in the Sensex pack, soaring around 7 per cent, followed by Bajaj Finserv, Bharti Airtel, PowerGrid, Infosys and ICICI Bank.

On the other hand, HUL, Kotak Bank, Bajaj Finance and ITC were among the laggards.

According to Binod Modi, Head-Strategy at Reliance Securities, domestic equities remained in the grip of bulls with benchmark indices extending gains for the sixth consecutive day.

“Improved prospects of sustained economic recovery on the backdrop of sharp increase in capital expenditures and bold reform measures have emboldened investors.

“While global equities remained favourable today, benchmark index Nifty and Sensex recorded fresh all-time highs,” he said.

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 was trading 0.76 per cent higher at USD 60.01 per barrel.