NEW DELHI: Markets on Monday scaled new closing highs with the benchmark BSE Sensex rising more than 300 points and the broader NSE Nifty finishing above the 11,550-mark. Both the indices gained support from the positive global cues and some recovery in the rupee.
Sensex rose 331 points or 0.87 per cent to end at a new closing high of 38,279, while Nifty ended 81 points or 0.71 per cent up at 11,552.
Traders said positive cues from other Asian markets, tracking gains on the Wall Street fuelled by hopes for an easing of the trade row between China and the US, influenced sentiments.
The indices touched fresh highs buoyed by gains in Larsen & Toubro following a buyback proposal, while financials rose. L&T, Tata Motors, ONGC and Tata Steel were among the major gainer on the 30-share BSE index with their stocks rising as much as 6.74 per cent.
On NSE, Nifty metal index gained the most and finished 2.5 per cent higher.