Stock Markets hit new all-time high as Nifty scales 16850, Sensex up over 500 pts – Metal continue to lead the rally

The domestic market continues its winning streak after opening at a record high today, the BSE Sensex has jumped over 500 points or 1 per cent to trade above 56,600, while Nifty is gaining by almost 150 points or 1 per cent is trading above 16850 levels on Monday during intraday trade.

Similarly, the mid-cap index joining the gaining party has also surged over 450 points or 1.64 per cent to cross over 28000-mark and is trading at 28175.65 levels intraday trade today. 

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Metal Index is up whooping 2.2 per cent, led by Tata Steel, which is also Index and sectoral gainer intraday trade today, surging by around 4 per cent. Similarly, banking and financial stocks are also joining the Bull run, with Nifty Bank up over 1 per cent, surging around 400 per cent to 36,024.

At least 5 index heavyweights, followed by Tata Steel, are surging between 2-3 per cent, they are – Bajaj twins such as Bajaj Finance and Bajaj Finserv, Coal India, Hindalco, and Titan. While at least 24 heavyweights are surging between 1-2 per cent, they are Tata Motors, M&M, Asian Paints, Sun Pharma, ONGC, Dr Reddy’s Reliance Industries, Hero Moto, SBI, Maruti, Axis Bank, and Divis Lab.

Almost all sectors are gaining, except Nifty IT, which is weak by trading flat with a negative bias, led by HCL Tech, Infosys, Tech Mahindra, Wipro are a few of the Index laggards in the all-time high market. Besides, Nestle and Eicher Motors are also weak in the Bull market today intraday.

On the global front, the US markets on Friday end at a record high on Friday as Federal Reserve sounds 'dovish' on rates and expects tapering of bond-buying by year-end in a staggered manner. While Asian markets on Monday trading mixed with most indices giving up morning gains.