The share market indices on Monday, touched record high at open driven by sharp gains in shares of HDFC Bank Ltd., Bharti Airtel Ltd., and Adani Ports and Special Economic Zones Ltd. Shortly after opening NSE Nifty scaled a fresh high of 23,043.20, and the S&P BSE Sensex touched a record high 75,679.67.
As per Business Line, analysts anticipate the current momentum to continue in the short term, citing global sentiment as a driving factor as the election nears its conclusion and the Q4 result season ends.
Top gainers in NSE at 9.30 am include Divi’s Lab (4.14%), Adani Ports (1.95%), Hindalco (1.39%), Shriram Finance (0.98%), JSW Steel (0.96%) while top losers include Adani Enterprises (-1.96%), Wipro (-1.27%), ONGC (-1.06%), Maruti (-0.91%), Dr Reddy’s Lab (-0.67%)
Meanwhile, NSE Nifty Realty also rose 1.67% or 17.10 points to record high of 1,040.75 tracking sharp gains in Godrej Properties Ltd. and Macrotech Developers Ltd. Similarly Nifty Midcap 100, Nifty Midcap 150 have also touched fresh highs on Monday.
UBS has suggested that the share market will scale to new heights is Prime Minister Narendra-Modi led BJP retains absolute majority.
Also watch: Sensex, Nifty face election year jitters, worst since 2004