Market celebrates Modi 3.0 swearing-in, indices at record high

Sensex climbed 387 points to 77,079, while Nifty50 was 0.39% at 23,411 level in early trade

BBN Bureau

MUMBAI: The Indian bourses are celebrating the swearing-in of the third Modi ministry by scaling new peaks even at the opening on Monday. The market hopes that the new government will continue with the previous government’s pro-market polices.

The the benchmarks BSE Sensex and Nifty50 hitting record highs. The BSE Sensex climbed 387 points to 77,079 levels, while the Nifty50 was 0.39 per cent at 23,411 levels.

Powergrid, NTPC, SBI, Tata Motors, Axis Bank and Ultratech Cement were the top gainers on Sensex, whereas TCS, Wipro, Infosys and Tech Mahindra were among top losers.

On Nifty 50 Cipla and Adani Ports were among the top five gainers while LTIMindtree was among the top losers. 

Broader indices outperformed the benchmarks with MidCap index rising 1.07 and the SmallCap index above 1.27 per cent.

Among indices, Nifty PSU Bank, Nifty Real, and Nifty Oil and Gas shot up by 2.13 per cent, 1.80 per cent and 1.14 per cent, respectively. On the other hand, Nifty IT was the only index trading in red down 1.04 per cent.