Sensex, Nifty Hit Record Highs; Infosys Shares Surge Nearly 5%

Indian shares hit record highs on Monday, with IT stocks leading the surge after Infosys delivered a better-than-expected Q3 performance and said its audit committee has found no evidence of financial impropriety or executive misconduct.

Positive IIP data and optimism surround the imminent signing of a Phase 1 U.S.-China trade deal this week also helped underpin investor sentiment.

The benchmark S&P BSE Sensex climbed 259.97 points, or 0.62 percent, to 41,859.69, while the broader NSE Nifty index ended up 72.75 points, or 0.59 percent, at 12,329.55.

Infosys surged 4.7 percent after the IT major kicked off the earnings season on an upbeat note.

Brokerages have maintained a bullish view on the stock after the company posted 23.49 percent year-on-year rise in profit for the three months ended December and raised FY20 constant currency revenue guidance.

Wipro, HCL Technologies and Tech Mahindra rose over 1 percent, while Bharti Airtel, GAIL, Coal India and IndusInd Bank climbed 3-4 percent.

On the flip side, Yes Bank shares slumped 5.8 percent after the private sector lender rejected Erwin Singh Braich's $1.2 billion investment offer and said it would raise Rs 10,000 crore by issuing securities.



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