Sensex, Nifty End At Record High; IT, Metal Stocks Lead Gains

On Monday, the Indian benchmark indices closed at a new all-time high with Tata Steel, Hindalco, Eicher Motors, ONGC and TCS as the major gainers of the day on Nifty.

BSE's Sensex ended 0.64% or 307.82 points higher at 48,177 and NSE's Nifty 50 closed at 14,133, up 0.82% or 114.40 points.

Robust buying was seen in metal and IT stocks, causing BSE Midcap index to hit a new all-time high.

Broader markets outperformed the benchmarks with Nifty Smallcap100 and Nifty Midcap100 ending over 1% higher each. Among sectoral indices, excluding Nifty Private Bank, all others ended in the green with the Nifty Metal index rallying the most of over 5%.

IT stocks gained ahead of Q3 Numbers with TCS, Infosys and HCL Tech hitting new highs. Results for the quarter of October-December are set to kickstart this week. Tata Consultancy Services (TCS) and Larsen & Toubro Infotech (LTI) were both up 2% to hit new highs of Rs 2,988 and at Rs 3,769, respectively.

Meanwhile, the Indian rupee ended 10 paise higher at 73.02 per dollar, amid buying seen in the domestic equity market.