Sensex climbs 98 points to hit lifetime high

Equity benchmark index Sensex rebounded nearly 100 points to hit a lifetime closing high on Monday and Nifty scaled an intra-day record level, propelled by bargain hunting in energy, utility and banking stocks amid sustained foreign fund inflows.

The 30-share BSE Sensex climbed 97.84 points or 0.12 per cent to settle at a new record peak of 82,988.78.

During the day, it jumped 293.4 points or 0.35 per cent to hit a fresh lifetime intra-day high of 83,184.34.

The NSE Nifty rose 27.25 points or 0.11 per cent to settle at 25,383.75.

During the day, the benchmark gained 89.2 points or 0.35 per cent to hit a new intra-day record peak of 25,445.70.

NTPC was the biggest gainer on the Sensex chart, rising 2.44 per cent, followed by JSW Steel, Larsen & Toubro, ICICI Bank, Axis Bank, Nestle, Mahindra & Mahindra and Tata Steel.

Bajaj Finance declined over 3 per cent. Hindustan Unilever, Bajaj Finserv, Adani Port and Asian Paints were the other laggards.

In Asian markets, Hong Kong ended with gains.

Markets in Japan, mainland China and South Korea were closed for holidays.

Foreign Institutional Investors (FIIs) bought equities worth Rs 2,364.82 crore on Friday, according to exchange data.

Domestic Institutional Investors (DIIs) also bought equities worth Rs 2,532.18 crore.

Global oil benchmark Brent crude climbed 0.35 per cent to $71.90 a barrel.

"Globally equity markets will be focused on the Fed rate action on Wednesday, which is likely to influence the stock market trend in the near-term," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.