Market trades near record levels; L&T, Reliance Industries, HDFC twins lift indexes

Indian equity indices, the BSE Sensex and the NSE Nifty 50, traded near record levels on Monday, sustaining gains from the opening trade.

The Sensex was trading at 38,252.08, jumping 304.20 points, 0.80 percent at 11:55 AM. The Nifty 50 also was comfortably perched over the 11,500 level, trading at 11,542.60, rising by 71.85 points or 0.63 percent.

Both indexes started the week on a strong note on broad-based gains in capital goods, industrials, metal, realty and banking and financial stocks amid firm Asian cues as trade war tensions between the US and China took a backseat.

The Sensex rose over 250 points to hit a fresh record high in early trade, and NSE Nifty went past the 11,500-mark for the first time today.

Major gainers that helped key indices scale new highs include L&T, ONGC, Yes Bank, Coal India, Tata Motors, Tata Steel, Wipro, Vedanta, SBI, RIL, HUL, HDFC Ltd, Hero MotoCorp and HDFC Bank, rising up to 5.76 percent.

Meanwhile, Infosys, Bharti Airtel, ITC and TCS were trading in the red, falling nearly three percent.

Midcaps also joined in the market rally with the BSE MidCap nearly a percent higher, while the NSE MidCap up by 0.66 percent. BSE SmallCap, however, was higher by just 0.32 percent.

IT and Teck declined among BSE sectoral indices, while Capital Goods surged by 3.46 percent and Industrials by 2.28 percent.

The NSE sectoral indices were also trading in the green except IT, which was down by 0.68 percent. The Nifty Bank was higher by half a percent. The Nifty Metal traded the highest at 1.23 percent.

In Asia, Hong Kong's Hang Seng rose 0.75 percent, while Japan's Nikkei fell 0.22 percent.

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