India's benchmark indices ended at a fresh record closing high for the third day in a row on Monday, led by index heavyweights Reliance Industries Ltd., ICICI Bank Ltd. and NTPC Ltd.
The NSE Nifty 50 settled 27.20 points or 0.12%, higher at 22,405.60, and the S&P BSE Sensex gained 66.14 points or 0.09%, to end at 73,872.29. The Nifty hit a fresh record high of 22,440.90 and the Sensex touched a lifetime high of 73,990.13.
"The Nifty commenced the week with a consolidated move, resulting in the formation of a Doji candle on the daily chart. Despite this, the overall sentiment remains bullish," said Kunal Shah, senior technical and derivative analyst at LKP Securities.
"A decisive break above 22,440 is anticipated to intensify the momentum, targeting 22,700 on the upside. On the downside, support is established at 22,200, presenting buying opportunities on any pullbacks towards this level," he said.
Reliance Industries Ltd., NTPC Ltd., ICICI Bank Ltd., Power Grid Corp of India Ltd., and Axis Bank Ltd. were added to the index.
Infosys Ltd., Mahindra & Mahindra Ltd., ITC Ltd., Tata Consultancy Services Ltd., and JSW Steel Ltd. weighed on the index.
On NSE, six sectors out of 12 advanced, and six declined. The Nifty Oil & Gas sector was the best performing sector, and the Nifty Media sector was the worst performing sector.
Broader markets ended on a mixed note on BSE. The S&P BSE Midcap ended 0.16% higher, and the S&P BSE Smallcap settled 0.78% lower.
On BSE, ten sectors declined and ten ended higher. S&P BSE Oil & Gas jumped the most.
Market breadth was skewed in favour of the sellers. Around 2,525 stocks fell, 1,429 rose, and 131 stocks remained unchanged on the` BSE.
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