Stock market today: Domestic equity benchmark Nifty50 registered a record closing high of 22,122.3 on Monday, February 19, surpassing an existing record of 22,097.5 scaled on January 15, led by gains in financial stocks. The leaner Sensex index rose 281.5 points, or 0.4 per cent, to settle at 72,708.2.

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During the day, the 50-share index Nifty hit an all-time high of 22,186.65, before settling at a record 22,122.25, up 81.55  points, or 0.37 per cent. The S&P BSE Sensex eventually ended at 72,708.2, still about 620 points shy of its record closing high.

Grasim, Bajaj Finserv, Bajaj Auto and Cipla were among the top gainers in the Nifty basket, trading with gains of around 3-2 per cent. On the other hand, Coal India, L&T, SBI Life and Wipro were among the top losers, down nearly 4-1 per cent.

"Despite an unattractive risk reward, the broader market continued its outperformance in expectation of improvements in private capex and optimism about political stability. Benign input costs and expectations of a pickup in rural demand will aid corporate earnings growth," Vinod Nair, Head of Research, Geojit Financial Services said. 

"On the global front, the US FED will unveil its latest minutes this week, which may hint at the direction of rates; however, the higher US 10 yr yield and domestic outflows of FIIs are pointing cautiousness of foreign investors," he added. .

The high-beta Nifty Bank index, whose 12 constituents include SBI, HDFC Bank and ICICI Bank, finished the day with a gain of 150.7 points, or 0.3 per cent, at 46,535.5. Nifty Small Cap 100 and Nifty Mid Cap 100 settled 0.4 and 0.36 per cent stronger, respectively. 

GLOBAL MARKETS

European stocks slipped on Monday, with French stocks taking a hit after the government cut its annual economic growth forecast, while shares of car parts maker Forvia rose following an upbeat outlook and on plans to trim its workforce.

The continent-wide STOXX 600 index, opens new tab was down 0.1 per cent, while the euro zone blue-chip STOXX 50E index (.STOXX50E), opens new tab lost 0.3 per cent by 0948 GMT.

France's benchmark index, opens new tab lost 0.4 per cent, easing from Friday's record high, after the government trimmed the economy's 2024 gross domestic product growth forecast to 1 per cent from 1.4 per cent, hurt by the ongoing war in Ukraine and Gaza and a slowdown in top trading partners Germany and China.

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