The benchmark equity indices gained for the fourth consecutive session on Monday and closed at their highest since early January.
The NSE Nifty 50 closed 273.9 points, or 1.15% higher at 24,125.55, while the BSE Sensex ended 855.3 points, or 1.09% up at 79,408.5, the highest since Jan. 3.
The Nifty Bank closed at a record high of 55,304.5, after a jump of 1.87% as investors took comfort from recent earnings. IT stocks also fared better due to a weaker dollar.
Shares of HDFC Bank Ltd., Reliance Industries Ltd., Infosys Ltd. and Axis Bank Ltd. contributed positively to changes in the Nifty.
While those of ITC Ltd., Hindustan Unilever Ltd., Bharti Airtel Ltd. and Adani Ports and Special Economic Zone Ltd. weighed on the index.
All but one of the 15 sectoral indices on the National Stock Exchange ended with gains, with the Nifty Energy, Nifty PSU Bank and Nifty Oil & Gas advancing the most. Nifty FMCG faced losses.
In the broader market, the BSE MidCap and SmallCap underperformed the benchmark as they rose 2.2% and 1.67%, respectively.
On BSE, all but one of the 21 sectoral indices ended with gains, with Oil and Gas and Power being the top sectoral performers.
The market breadth was skewed in the favour of the buyers as 1,683 stocks advanced, 440 declined and 10 stocks remained unchanged on the NSE.
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