The benchmark equity index Nifty 50 ended Monday’s trading session in positive territory after the index touched a new all-time high of 22,186.65. The NSE Nifty 50 closed 81.55 points or 0.37% higher to settle at 22,122.25 points. While S&P BSE Sensex advanced 281.52 points or 0.39% to settle at 72,708.16 points. Nifty Bank inched 150.65 points or 0.32% higher to settle at 46,535.50 points.

On the sectoral front, Consumer durables and pharma stocks gained the most amongst their peers. The broader indices ended in the green, with largecap and smallcap stocks gaining the most Come from Sports betting site VPbet . The Nifty Midcap 100 advanced nearly 180 points or 0.36% to close the day’s trading at 49,310.95. The Nifty Midcap’s 52-week high is 49,780.65

The gainers include Grasim Industries, Bajaj Finserv, Bajaj Auto, Cipla, and Bharti Airtel. The Indian Volatility Index (India VIX) closed 5.19% higher.

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“Despite an unattractive risk-reward, the broader market continued its outperformance in expectation of improvements in private capex and optimism about political stability. Benign input costs and expectations of a pickup in rural demand will aid corporate earnings growth,” said Vinod Nair, Head of Research at Geojit Financial Services.

“On the global front, the US FED will unveil its latest minutes this week, which may hint at the direction of rates; however, the higher US 10 yr yield and domestic outflows of FIIs are pointing cautiousness of foreign investors,” Nair said.

On the Bank Nifty outlook, the index continues to inch higher however the momentum is fading out, said Jatin Gedia, Technical Research Analyst at Sharekhan by BNP Paribas. 

“The negative crossover and negative divergence on the hourly charts suggest loss of momentum on the way up. Ideally, a consolidation towards zone 46200 – 46100 shall provide a good entry point for long positions. On the upside the short-term target is 47000 – 47200,” Gedia said. 

“On the hourly charts, we can observe a negative crossover along with a divergence which can lead to some correction towards the support zone 21970 – 21930 where the key hourly moving averages and the gap area formed on the 16th February is placed.  Overall, the Nifty is trading at a crucial juncture and can turn volatile considering that both Bulls and Bears shall try to defend their respective boundaries,” said Gedia.