Sensex, Nifty Close At Record Highs Led By Gains In Banking, Metal Shares

The Indian equity benchmarks surged on Tuesday and closed at record highs paced by gains in banking, financial services and metal shares.

The Indian equity benchmarks surged on Tuesday and closed at record highs paced by gains in banking, financial services and metal shares. The Sensex rose as much as 467 points and Nifty 50 index reclaimed its important psychological level of 16,600. Investor sentiment turned positive a day after the government announced National Monetisation Pipeline (NMP) wherein the government said that infra assets worth Rs 6 lakh crore will be monetised across the rail, road and power sectors over 4 years. The Sensex rose 403 points to close at record high of 55,959 and Nifty 50 index climbed 128 points to close at an all-time high of 16,625. "It is going to be crucial for the Nifty to sustain above 16,600 from short-term perspective. Nifty is likely to gain momentum and go up to 16,700 levels," Ashis Biswas, Head of Technical Research at CapitalVia Global Research told NDTV. Buying was visible across sectors as sixteen of 19 sector gauges compiled by the BSE ended higher led by the S&P BSE metal index's nearly 3 per cent gain. Energy, Banking, Financial Services, Capital Goods, Healthcare Industrial, Oil & Gas and Power indices rose between 1 to nearly 2 per cent.