India's benchmark indices hit fresh highs for the fourth consecutive session as oil and gas stocks led the day's gains on Dalal street.
The NSE Nifty 50 rose as much as 0.52% to hit 25,925.80, while the S&P BSE Sensex advanced 0.40% to 84,881.73. At 12:39 p.m., Nifty was trading 76 points, or 0.29% higher at 25,866.80, and Sensex was up 126 points, or 0.15% at 84,669.80.
Indices like the Nifty 100, Nifty 200, Nifty 500, Nifty Midcap 150 and Nifty FMCG climbed to fresh life highs during the session.
Nifty 50 has closed at all time high with key supports moving higher at 25,350 levels and now the next potential targets could be in range of 26,050-26,180 levels, said Vikas Jain, head of research at Reliance Securities Ltd. "There could be some bout of volatility in individual sectors and stocks in the current week, with respect to the rollover movement and derivatives expiry."
Shares of HDFC Bank Ltd., State Bank Of India, Bharti Airtel Ltd., and Mahindra & Mahindra Ltd. were positively contributing to changes in the Nifty 50.
While those of ICICI Bank Ltd., Infosys Ltd., and Larsen & Toubro Ltd. were negatively contributing to the changes.
On NSE, 11 out of 12 sectors gained, with Nifty PSU Bank and Oil & Gas climbing the most on Monday morning. Nifty IT was the only loser.
Broader markets also rose alongside the benchmark indices, with the Midcap and Smallcap trading 0.41% and 0.60% higher, respectively, through midday on Monday.
On the BSE, 18 out of 20 sectors advanced, with BSE Oil & Gas and Telecommunication leading the climb.
Market breadth was skewed in the favour of buyers. Around 2,350 stocks rose, 1,575 stocks declined, and 165 remained unchanged on the BSE.
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