Sensex, Nifty hit fresh highs; IT stocks drag

After a negative opening, Indian benchmark share indices settled with mild gains amid volatility on Monday. After scaling a new intraday high of 60,476.13, Sensex closed 76.72 points or 0.13% higher at 60,135.78. Similarly, the Nifty advanced 50.75 points or 0.28% to its all-time closing high of 17,945.95. The 50-share index hit a fresh lifetime high of 18,041.95 during the session. Maruti, rising nearly 4%, was the top Sensex gainer followed by PowerGrid, ITC, NTPC, SBI, M&M, Kotak Bank and HDFC Bank. TCS, falling over 6%, was the top laggard followed by TechM, Infosys, HCL Tech and RIL. All sectoral indices, barring Nifty IT, closed in the green. Nifty Auto, rallying 2.7%, was the top sectoral gainer followed by Nifty Realty, Nifty Metal and Nifty Financial Services. On the other hand, Nifty IT ended 3.4% lower. Overall market breadth was positive as 1,952 stocks on the BSE advanced, while 1,481 declined and 159 remained unchanged. In Asia, stock exchanges in Hong Kong and Tokyo ended higher, while Shanghai was in the red.