Monumental Monday: Nifty tops 19,300, Sensex past 65,000, record new life highs

Investing.com -- Indian equity benchmark indices extended their rally to the first day of the September quarter and hit fresh record peaks for the third consecutive session in early trade on Monday amid strong cues from Asian peers and triggers indicating a slowdown in inflation as the data-packed week begins.

The benchmark index Nifty 50 scaled a new all-time high on Monday, surpassing the 19,300 mark at 19,318 points, while the 30-scrip Sensex also hit a new peak of 65,075.28 points in the session.

The bull ride extended on Dalal Street and the two headlines continued to record fresh peaks for the third straight session, with Nifty rallying for the fifth day in a row and Sensex for the fourth day on July 3, 2023.

At 00:15 ET (04:15 GMT), Nifty surged 0.62% and Sensex jumped 415.95 points or 0.64%. The market fear barometer India VIX spiked 9.1% to 11.78 levels in the session.

Gains across the domestic market were led by banking and financial packs, led by an up to 3% jump in HDFC twins, while JSW Steel (NS:JSTL) and UltraTech Cement (NS:ULTC) supported the Nifty index. Market heavyweights PowerGrid (NS:PGRD), Bajaj Auto (NS:BAJA), UPL (NS:UPLL) and Maruti (NS:MRTI) exerted pressure on the benchmark.

Most sectoral indices listed under the Nifty umbrella traded in the green, led by Nifty Financial Services and Nifty Bank, while Nifty Pharma dipped 0.15% while writing.