Indian equity indices closed near record highs on June 16, helped along by a possible rate pause by the US Federal Reserve, favourable WPI inflation data and upbeat global investments. While metal pack led gains, sectors including private banking and financial services saw selling pressure.
The benchmark Sensex rose by 418 points to settle at a six-month high, driven by optimistic domestic macroeconomic data and gains in global markets. Buying in index majors Reliance Industries and ITC also added to the positive mood in equities. Additionally, the Nifty closed above the 17,700 mark.
Indian equities snapped a two-day losing streak, with the Nifty ending above 18,600 points on Monday, driven by positive global cues and optimistic expectations surrounding India's economic growth. Sectors including IT and real estate were among the major gainers.