Indian equity markets began the week on a good note and extended their gains as benchmark indexes reached new all-time highs on Monday, owing to favourable domestic signs, the start of the new government and inline RBI monetary policy.
On Monday, BSE’s barometer Sensex climbed almost 386 points, or 0.5 per cent, to 77,079.04. In the early session, the Nifty50 witnessed an increase of 121.75 points, or 0.52%, to 23,411.90. The BSE midcap and smallcap indexes increased by three-fourths to one per cent each, indicating that broader markets surpassed the headline indices.
Nifty made significant gains last week, as the Sensex reached a record-breaking high of 76,795.31. The RBI increased India’s GDP growth projection to 7.2% for FY24–25, and with Narendra Modi taking power for a third term as prime minister, Prashanth Tapse, Senior VP (Research) at Mehta Equities, predicted that markets will trade higher.
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