Indian shares extend gains for fifth session

BENGALURU, Feb 19 (Reuters): Indian shares extended gains for the fifth straight session on Monday, with the blue-chip Nifty 50 index hitting a record high, led by financials and energy stocks.

The jump marks the sixth instance of the Nifty 50 rising to a new all-time high in 2024.

The NSE Nifty 50 index, opens new tab rose as much as 0.66 per cent to a record level of 22,186.65, before settling 0.37 per cent higher at 22,122.25. The S&P BSE Sensex, opens new tab gained 0.39 per cent to 72,708.16, about 1 per cent shy of an all-time high of 73,427.59.

Both the Nifty 50 and Sensex have advanced for five consecutive sessions, adding about 2.3 per cent each, displaying resilience to hot U.S. inflation data, unlike other Asian peers.

"Everything looks favourable, be it the strong macro-economic fundamentals, in-line earnings season or the robust retail inflows that have powered Indian markets," said Abhijit Bhave, managing director and chief executive at Equirus Wealth.