The stock market achieved a record closing, although it fell from its intra-day highs. The Sensex surged past the milestone of 70,000 points during intra-day trading.
The Sensex managed to rise by 103 points, settling at 69,928, while the Nifty 50 gained 28 points to close at 20,997. The Nifty Bank also experienced a boost, gaining 52 points to reach 47,314, and the Midcap Index soared by 329 points, closing at 44,729.
The Midcap Index resumed its upward trend, with notable gains from Dixon Tech and Polycab emerging as the top midcap gainers. Across all sectoral indices excluding Nifty Pharma, the day concluded on a positive note, with Nifty PSU Bank leading the gainers.
Top gainer on the Nifty were UPL, UltraTech Cement, ONGC, Adani Enterprises and LTIMindtree, while losers were Dr Reddy's Laboratories, Cipla, Axis Bank, BPCL and M&M.
Among sectors, PSU Bank, FMCG, power, metal, realty up 0.5-1%, while pharma index down 0.4%
Wockhardt saw a surge of over 14% following the successful Phase 3 clinical trial of Nafithromycin. GMR Airports continued its positive trajectory from Friday, reaching a 15-year high with an increase of more than 6%.
Zee witnessed a gain of over 2%, as the Supreme Court agreed to hear a bankruptcy plea against Zee Founder. In the sugar sector, stocks rose ahead of an industry meeting with the Petro and Gas Ministry concerning ethanol production issues.
However, Dr. Reddy's ended the day as the top Nifty loser due to US FDA observations on its Bachupally unit. On the flip side, Polycab emerged as the most valued cables and wires company, surpassing Havells' market capitalization.
