Railway stocks surge over 18% as Sensex, Nifty close at record high

Railway stocks jumped over 10 per cent on Monday as all-round buying pushed Sensex past the 73,000 mark and Nifty beyond the 22,000 mark.

Railway stocks were the top gainers with IRFC up over 18 per cent, RVNL up 13.49 per cent and IRCON up 7.51 per cent.

All these stocks hit new 52-week highs. IRFC has jumped to new 52-week highs on massive volumes.

Performance Of Other Railway Stocks 

- Texmaco Rail is up 6.2 per cent

- Railtel is up 5.28 per cent

- RITES is up 4.56 per cent

- Jupiter Wagons is up 4.99 per cent.

India is in the most transformative phase in its history with massive Infrastructure development (Highways, Logistics, Ports, railways, Metro), Defense, PLI and significant increase in domestic demand with rising income levels and youngest population globally, as per a report by Prabhudas Lilladher.

Meanwhile, benchmark Sensex closed above the 73,000 level for the first time while broader Nifty scaled the 22,000-point peak on Monday as key stock indices stayed on the record-breaking run powered by a rally in IT shares, Reliance and HDFC Bank.

Rising for the fifth day in a row, the 30-share BSE Sensex jumped 759.49 points or 1.05 per cent to settle at a lifetime closing high of 73,327.94. During the day, it rallied 833.71 points or 1.14 per cent to hit an all-time intra-day peak of 73,402.16.

The Nifty climbed 202.90 points or 0.93 per cent to settle at a new closing high of 22,097.45. During the day, it zoomed 221 points or 1 per cent to reach a lifetime intra-day high of 22,115.55.

In Asian markets, Seoul, Tokyo and Shanghai settled in the green while Hong Kong ended marginally lower. European markets were trading mostly lower. The US markets ended on a muted note on Friday.

Global oil benchmark Brent crude declined 0.29 per cent to USD 78.06 a barrel. Foreign institutional investors (FIIs) offloaded equities worth Rs 340.05 crore on Friday, according to exchange data.

With agency inputs