The Nifty 50 ended just below its record high on Monday, while the Sensex rallied, driven by positive global cues and strong key sector performance.

The Sensex and Nifty closed with significant gains, while the market capitalization of BSE-listed companies reached a record high.

The gains were fueled by strong performances in the IT, private financials, and metal sectors. The Nifty Metal index was led by geopolitical tensions, with several metal stocks rising sharply in the last hour, some by up to 5%.

Upstream oil companies gained, with ONGC and Oil India rising by 3% each, driven by an increase in crude oil prices.

IT stocks continued their positive momentum, supported by expectations of a rate cut in September. Reliance Industries Ltd. was in focus ahead of its annual general meeting, significantly boosting the Nifty’s gains.

Not all stocks were in green; Apollo Hospitals saw minor losses after a downgrade by Nomura, and Zydus Life dropped up to 7% due to rising competition for its Asacol HD generic.

Ambuja Cements couldn’t maintain early gains, despite block deals with GQG Partners.

Paytm dropped up to 8% after reports of SEBI show-cause notices, while Shilpa Medicare surged 7% following successful fatty liver disease drug trials. NIIT hit a 20% upper circuit after Ramesh Damani acquired a stake.

Aarti Drugs rose 10% after its board approved a Rs 59 crore buyback at Rs 900 per share. The market breadth was positive, with an advance-decline ratio of 5:4, showing a favourable trend for market advances.

At close, the Sensex rose 611.90 points (0.75%) to 81,698.11, while the Nifty gained 187.45 points (0.76%) to 25,010.60.

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