Indian markets ended at a record close on Monday, with Infosys leading gains, rising 4 percent after the IT bellwether beat quarterly profit estimates and cleared its top executives of financial misconduct allegations.

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Infosys, whose quarterly net profit rose 23.5 percent, said on Friday its probe exonerated CEO Salil Parekh and CFO Nilanjan Roy of all allegations, including accusations that the duo prevented employees from presenting data on large deals.

The Sensex settled 260 points higher at a record close of 41,859, while Nifty also ended at a new closing high of 12,329, up 73 points.

In intra-day deals, the Sensex rose as much as 300 points to a new high of 41,899 versus its previous high of 41809.96, hit on December 20. Nifty also hit a record high for the second straight session. It jumped 81 points to its record high of 12,337.75.

Broader markets also gained during the day with Nifty Midcap and Nifty Smallcap indices up 0.8 percent and 0.9 percent, respectively.

Among stocks, Infosys, Coal India, IndusInd Bank, GAIL and Bharti Airtel were the top gainers on Nifty, while Yes Bank, Bharti Infratel, UPL, TCS, and Eicher Motors led the losses.

YES Bank fell 6 percent due to further delays in its capital raising plans after the board said that it will not proceed with the $1.2 billion offer by Canada-based Erwin Braich.

All sectoral indices were in the green for the day. Major buying was seen in Nifty IT, which rose 1.7 percent, while Nifty Metal and Nifty FMCG also added 1.1 percent. Nifty Bank and Nifty Pharma was up 0.25 percent for the day.

On the global front, Asian shares rose to new 19-month highs ahead of the expected signing on a Phase 1 China-US trade deal, although markets have yet to see the details of the agreement. MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.47 percent higher, touching its highest point since June 2018.

First Published:Jan 13, 2020 3:31 PM IST