Market Close: Sensex comfortably ends above 40,000

The benchmark indices close at record highs. For the first time ever, BSE Sensex closed above 40,000, while Nifty closed above 12,000 level. The BSE Sensex closed at 40,267.62, up by 553.42 points, while Nifty50 closed at 12,088.55, up by 165.75 points or up by 1.39 per cent each. 

Index heavyweights supported the markets scale new highs. Reliance contributed 90.65 points to the gains, followed by HDFC contributing 82.41 points, HDFC Bank 61.51 points, while IT stock TCS contributed 44.93 points and FMCG major HUL contributed 36.41 points to the Sensex on Monday.

Among the top gainers were Hero Moto Corp up 6.01 per cent, followed by Bajaj-Auto up by 3.92 per cent, IndusInd up by 3.70 per cent, Asian Paint up 3.65 per cent, HUL up by 2.90 per cent and Maruti up by more 2.89 per cent. Additionally on Nifty among the gainers was IndiaBull Housing Finance. Among the top losers on Sensex were ITC, NTPC and ICICI Bank, while on Nifty, Tech Mahindra, GAIL and UltraTech Cement were also top losers.

Sectorally, all sectors, except Media, were trading in the green. Nifty Bank was at 31,653.65, up by 278.25 points or 0.89 per cent. Nifty Auto closes up by 1.87 per cent, followed by Metal up by 1.75 per cent, FMCG and IT were also up more than 1 per cent each.

A fall in crude prices and expectation of a rate cut by the Reserve Bank of India fuelled the rally on the first day of trade for the month of June.