Nifty, Sensex close at record highs again, cement stocks surge

India’s benchmark indices Nifty and Sensex traded in the positive territory on Monday’s session. Nifty ended at 9,915 level, up by 29 points, while, BSE Sensex closed at 32,074 level, up by 54 points.  

BSE Mid-cap index ended higher by 0.07 per cent at 15,197. BSE Small-cap index ended at 15,910, up by 0.01 per cent. India VIX ended higher by 2.5 per cent at 11.4 level.

Wipro, Ultra Tech Cement and Vedanta were the top gainers in Nifty, while, ITC, GAIL and Coal India were the top losers in Nifty.

Nifty Bank closed at a record high, closing above the 24,000-mark for the first time ever. Nifty Bank gained 77 points at 0.32 per cent in today’s trade.

Salasar Techno Engineering's initial public offer (IPO) was oversubscribed by 93.54 times on the last day of subscription on Monday. 

In early hours of Monday’s trade, cement stocks witnessed an upward trend in anticipation of increased demand for cement on account of benefits from GST and enhanced government spending on public infrastructure. Also, the cement industry may benefit due to the drop of 30 per cent in cement prices due to elimination of blockage time at state check posts after the GST roll out. 

Ambuja Cements ended higher by 1.5 per cent at Rs 266.00, Burnpur Cements ended higher by 1.6 per cent at Rs 9.10, Ultratech Cement closed higher by 3.1 per cent at Rs 4350.00 and Birla Corporation rose 1.1 per cent to close at Rs 936.60.