Investors richer by Rs 4 trn as Sensex zooms 765 pts, ends near 56,900

Stock market updates: Indian equities hit fresh milestones on Monday as Jerome Powell's speech last Friday, suggesting no interest rate hike in the near future, boosted risky assets.

The frontline S&P BSE Sensex inched towards the 57,000-mark as it hit a new high of 56,958 in the intra-day deals. The Nifty50, meanwhile, came close to the 17,000-mark as it touched 16,949 levels.

By close, both the indices were at new closing highs of 56,890 and 16,931 levels, up 765 points and 226 points, respectively. The indices gained 1.4 per cent each. This was the indices best one-day gain since August 3, 2021.

In the broader markets, the BSE MidCap and SmallCap indices ended 1.7 per cent and 1.5 per cent higher, respectively. Sectorally, the Nifty Metal index advanced 2.5 per cent, followed by the Nifty Realty, Pharma, and Bank indices.