India's Sensex hits record high; Nifty races past 9700

Trading Resumes at NSE After Major Technical Glitches in the Morning

India's Sensex hits record high; Nifty races past 9700

Meanwhile, trading at BSE was normal and Sensex traded at its lifetime high of 31,602 in the morning hours.

Analysts continued to be bullish and saw further rise in the domestic equity market.

The indices set record high a few times during the day as the 30-share BSE Sensex hit all-time high of 31,768.39, gaining a whopping 407.76 points while the broader NSE Nifty touched the peak point of 9,772.20, rising by 52.90 points.

Major gainers in the 30-share index were Bharti Airtel (3.81%), Wipro (3.06%), Tata Consultancy Services (2.91%), Sun Pharmaceutical Industries (2.26%), Tata Motors (2.17%), and State Bank Of India (1.82%). The bourse later announced pre-open sessions twice, but failed to get the same going. AU Small Finance Bank on Monday made a stock market debut at 52% premium after its initial public offering (IPO) subscribed almost 29 times last week. They gained up to 1.58 per cent in their stock values. Gains in today's session were led by IT shares.

All sectoral indices led by technology, IT, realty, PSU, healthcare and bank were in the green.

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Optimism over quarterly corporate earnings coupled with covering-up of short positions also lift the index too.

Among specific stocks, shares of RIL gained in trade even as its subsidiary Reliance Jio Infocomm on Sunday reported a potential data breach and said it was probing alleged leakage of sensitive details including mobile numbers and Aadhar number of millions of its subscribers on the internet.

The broader markets underperformed the benchmark indices with BSE mid-cap and small-cap indices rising 0.6 and 0.4 per cent each respectively. Asian indices were trading positive at the back of expectations of Chinese inflation data for June met market.

"Such buoyancy ahead of the earnings season indicates that markets are in the strong hand and participants are anticipating much higher levels ahead".

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