Stock Markets witnessed a record breaking session as the Sensex closed at 39276, Nifty at 11,787. By midday the Sensex rose by 458 points to touch 39,364, finally ending at 39,276. Nifty, which reached 11,811 intraday, settled 0.83% higher at 11,787. The spurt is attributed to gains in the stocks of IT heavyweights such as TCS and banking stocks.
TCS shares ended 1% higher by the end of the day.
Meteorological Department (MeT)’s prediction of a ‘near normal’ monsoon contributed to the market sentiment.
The Dalal Street is expecting rate cuts and anticipating a rise of consumption demand, after election results.
Polycab India’s IPO got a massive response with subscription of more than 50 times. The company’s shares listing ended up at 654.80, 21.7% higher than its issue price of 538 per share.