The Indian equity market ended at a record high level on Monday led by strong gains in auto and metal stocks amid positive global cues. The Sensex ended 617.14 points, or 1.22 percent, higher at 51,348.77, while the Nifty gained 191.55 points, or 1.28 percent to close at 15,115.80.

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Broader markets, Nifty Smallcap100 and Nifty Midcap100 supported the rally by gaining more than 1.5 percent each.

Barring Nifty PSU Bank and Nifty FMCG, all other sectoral indices ended in the green with Nifty Auto and Nifty Metal rising over 3 percent each. On the Nifty, M&M, Tata Motors, Hindalco, Shree Cement and JSW Steel were the top index gainers, while Britannia Industries, Hindustan Unilever, Kotak Mahindra Bank, Divi's Laboratories and Bajaj Finance were the top losers.

Mahindra and Mahindra (M&M) was the top gainer in the Sensex pack, soaring around 7 percent, followed by Bajaj Finserv, Bharti Airtel, PowerGrid, Infosys and ICICI Bank.

On the other hand, HUL, Kotak Bank, Bajaj Finance and ITC were among the laggards. According to Binod Modi, Head-Strategy at Reliance Securities, domestic equities remained in the grip of bulls with benchmark indices extending gains for the sixth consecutive day.

”Improved prospects of sustained economic recovery on the backdrop of a sharp increase in capital expenditures and bold reform measures have emboldened investors. While global equities remained favourable today, benchmark index Nifty and Sensex recorded fresh all-time highs,” he said.

First Published:Feb 8, 2021 3:36 PM IST