Sensex, Nifty breach milestones before finishing at closing highs

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NEW DELHI: Equity benchmark indices Sensex and Nifty breached milestones and touched all-time highs on Monday before finishing at closing highs.
30-share BSE index rose a staggering 442.31 points to close at 38,694.11 while the broader 50-share NSE Nifty rose 134.85 points to finish at 11,691.95. Both the gauges surged more than a per cent and hit all-time highs of 38,736.88 and 11,700.95 in intra-day trading, respectively.
The indices had opened on a positive note in the morning, marked by an above-200 point surge for Sensex. Bullish global cues meant that the indices kept extending their gains through the session.
Indian markets were tracking “global cues and (corporate) earnings across the board have been relatively strong, so we are at a stretched valuation,” said Sanjiv Bhasin, Executive VP, Markets and Corporate Affairs, India Infoline.
Asian shares were also higher, boosted by record Wall Street highs last week that followed reassuring comments from the US Federal Reserve Chair, and as stock markets in China gained after the country’s central bank tweaked its management of the yuan.
Among sectors, the Nifty PSU Bank sub-index gained more than 2 per cent while the metal sub-index gained close to 1.50 per cent.