The Sensex and Nifty ended at their record highs on Monday, in a session driven by lenders, although the gains were subdued ahead of a central bank policy meeting this week.
The 30-share Sensex scaled an all-time high of 31,355.42 (intra-day), breaking its previous record of 31,332.56, recorded on June 2.
Finally, the gauge ended higher by 36.20 points or 0.12 per cent to close at new peak of 31,309.49, surpassing its previous record closing of 31,273.29, reached on June 2.
The 50-share NSE index Nifty gained 21.60 points or 0.22 per cent to close at 9,675.10, surpassing its previous record closing of 9,653.50 on June 2. Its intra day touched a high of 9,687.20 surpassing previous intra day 9,673.50 on Friday.
Among BSE sectoral indices, consumer durables index was the star-performer and was up 5.81 per cent, followed by realty 1.02 per cent, capital goods 0.8 per cent and oil & gas 0.3 per cent. On the other hand, metal index was down 0.56 per cent, power 0.06 per cent, healthcare 0.05 per cent and PSU 0.01 per cent.
Top five Sensex gainers were Bajaj Auto (+1.92%), TCS (+1.53%), L&T (+1.15%), Axis Bank (+1.02%) and Adani Ports (+1.02%), while the major losers were Coal India (-1.67%), GAIL (-1.02%), Infosys (-0.95%), Lupin (-0.79%) and Dr Reddy's (-0.72%).
Record highs
The Sensex and Nifty hit fresh record highs as lenders continued their rally, but the gains were capped ahead of a central bank policy meeting this week.
Lenders were among the top gainers, with YES Bank rising 1.8 per cent.
The NSE's bank sub-index has surged about 29 per cent this year up to Friday's close, outperforming a near 18 percent gain in the benchmark NSE index, as the country tackles the non-performing loans in the banking sector.
Among other gainers, Reliance Communications rose as much as 4.6 per cent after the debt-laden mobile carrier said on Friday it won a seven month reprieve from its lenders.
Shares of jewellery retailers PC Jeweller Ltd, Gitanjali Gems Ltd and Titan Company Ltd gained after the Union Government said it will tax gold and gold jewellery, silver and processed diamonds at 3 percent under Goods and Services Tax.
RBI monetary policy
The Reserve Bank of India is likely to keep interest rates unchanged at its policy review on Wednesday, but with inflation well below target its policy statement, it is likely to sound less hawkish than when the monetary policy committee last met, a Reuters poll showed.
“I don't see any major triggers for the market,” said Dipen Shah, vice president and head of private client group research at Kotak Securities.
“People are just waiting and watching.”
Geopolitical risks kept Asian stocks subdued on Monday, despite US stocks rising to record highs on Friday.
Sentiment across the globe was muted after US growth in May missed expectations and after attacks in London killed at least seven people. Meanwhile, oil prices jumped after Saudi Arabia, Egypt, the United Arab Emirates and Bahrain severed their ties with Qatar on Monday.