Indian stock market indices struck their fresh lifetime peaks in the early trade on Monday morning, continuing the four-day rally. However, volatility in the following hour saw the benchmarks trading flat.
Sensex surpassed the 77,000 landmark in a historical first while Nifty also reached its all-time high level. The rally is mainly attributed to RBI decision to revise the GDP growth project to 7.2 per cent for the current financial year from the previous 7 per cent.
Fresh foreign fund inflows also pushed the indices higher in the morning. The investor confidence is also boosted by a stable government at the Centre, after the NDA cabinet took oath on Sunday evening.
Sensex bounced 385.68 points to touch its new lifetime peak of of 77,079.04 points while Nifty zoomed 121.75 points to reach it record high at 23,411.90.
Power Grid, Axis Bank, State Bank of India, Bajaj Finserv, Reliance Industries and NTPC were the major gainers in the Sensex list. However, tech giants, including Tech Mahindra, Infosys, Wipro and HCL Technologies, saw their market capital eroding.
