Sensex jumps 759 points to close at record high; Nifty scales 22K

Sensex and Nifty reach new record highs fueled by IT shares, Reliance, and HDFC Bank.

Benchmark Sensex closed above the 73,000 level for the first time while broader Nifty scaled the 22,000-point peak on Monday as key stock indices stayed on the record-breaking run powered by a rally in IT shares, Reliance and HDFC Bank.

Rising for the fifth day in a row, the 30-share BSE Sensex jumped 759.49 points or 1.05% to settle at a lifetime closing high of 73,327.94. During the day, it rallied 833.71 points or 1.14% to hit an all-time intra-day peak of 73,402.16.

The Nifty climbed 202.90 points or 0.93% to settle at a new closing high of 22,097.45. During the day, it zoomed 221 points or 1 per cent to reach a lifetime intra-day high of 22,115.55.

A strong rally in IT shares Infosys, TCS, Wipro and HCL Tech after better than expected Q3 results helped the indices scale new record high levels. Oil & gas and energy sector shares also boosted the rally.

"The market gained momentum, led by the uptick in the IT index with the growing optimism about increased discretionary spending and strong deal wins. The US bond yield edged lower as market participants bet on the FED easing cycle, which is expected to start in March," said Vinod Nair, Head of Research, Geojit Financial Services.

Among the Sensex firms, Wipro jumped over 6% after the IT company's December quarter earnings beat estimates.

The other prominent gainers were HCL Technologies, HDFC Bank, Infosys, Tech Mahindra, Bharti Airtel and Reliance Industries.