The Indian stock markets witnessed a significant surge as the Sensex and Nifty reached new all-time high levels in early trading on Monday. The S&P BSE Sensex rose by 0.22% to 77,180.69 at 9:16 am, while the NSE Nifty50 gained 0.25%, trading at 23,523.30.
Energy stocks lead gains
Energy stocks climbed by 0.5%, with ONGC leading the pack with a 1.2% increase after the government reduced the windfall tax on petroleum crude from 5,200 rupees to 3,250 rupees per metric ton, effective June 15.
Wipro’s strong performance
Wipro saw a 3% rise following the announcement of an extended digital transformation partnership with Hanesbrands, positioning it among the top five gainers in the Nifty 50.
Public sector enterprises rally
Public sector enterprises rose by 1%, continuing their post-election results rally for the ninth consecutive session. State-owned lenders also saw a 0.5% increase.
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