Nifty ends above 10950; Sensex up 286 points, IT stock rise

equity share market newsBenchmark indices extended the gains and closed higher on Monday with Sensex and the Nifty reaching at fresh all-time highs driven by shares of TCS, ONGC, Reliance, Axis Bank, HDFC Bank, Yes Bank and L&T.

The NSE Nifty gained 71.5 points 0.66% to conclude at 10,966.20, while the BSE Sensex rose 286.43 points to end at 35,798.01.

Shares of India’s largest IT Company TCS surged 5.93% zooming above Rs 3,000 level for the first time to a record peak of Rs 3,130 before closing up 5.36% at Rs 3,113.15.

Shares of Reliance Industries rose nearly 5 percent to hit the all-time high on Monday after the Company posted the biggest ever quarterly net profit with Reliance Jio turning profitable.  The company posted its highest quarterly net profit of Rs 9,423 crore on record earnings from Reliance Jio logging its first-ever profit. 

Yes Bank, Bajaj Auto, Larsen & Toubro, Adani Ports, Kotak Mahindra Bank, HDFC Bank, Sun Pharma, Tata Motors are also in league.

Nifty January Index futures registered a drop in open interest since the focus shifted to the February expiry in which the fresh open positions to the tune of 36 lakh shares approx were created, showing a roll-over and build-up of fresh long positions.

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