In intraday trade, the Sensex surged 312.39 points to a fresh record high of 38,260.27 and the Nifty 50 soared 74.35 points to an all-time high of 11,545.10. Here are the latest updates from the markets

Benchmark indices BSE Snesex and NSE’s Nifty 50 surged to new record higher on Monday following positive cues from global markets, with the Nifty hitting 11,500 for the first time. In intraday trade, BSE Sensex today surged 319.07 points to a new record high of 38,266.95, while NSE’s Nifty 50 climbed 74.55 points to a fresh record of 11,545.30. Asian share markets crept cautiously higher on Monday as investors awaited developments on proposed Sino-U.S. trade talks and the Chinese yuan rallied away from dangerous lows. The Indian rupee along with Asian currencies strengthened against the US dollar over optimism that trade tensions between US and China will ease after planned talks due this week. Moreover, FIIs purchased shares worth Rs 147.31 crore on net basis on Friday and DIIs bought Rs 151.89 crore of shares, provisional data showed.

12.25 pm IST
BSE market cap hits record high
The total market valuation of all listed companies on the Bombay Stock Exchange hit a lifetime high of Rs 156.57 trillion on Monday, aided by strong gains in benchmark Sensex which breached 38000 mark again. At 12.15pm, market cap of BSE-listed companies stood at Rs 15,657,000 crore. Last time, all listed BSE market cap hit at a record high of Rs 156.56 trillion on 23 January.

12.15 pm IST
GMR Infra shares rise over 3% as DVI Fund raises stake
GMR Infrastructure Ltd shares rose as much as 3.66% to Rs 19.80 after the company said DVI Fund (Mauritius) Ltd purchased an over 5% stake in the company.

12.10 pm IST
BNP Paribas sees profit revival in Indian equity market
Earnings at companies listed in India, Asia’s best-performing stock market this year, can return to 2006 highs if the nation doesn’t enact any more “disruptive” economic policies, according to BNP Paribas Asset Management. “We just need to avoid disruptions to get earnings back,” Anand Shah, head of investments at BNP Paribas Asset Management (India) Pvt., said in an interview. “Indian companies’ profits have shrunk in the past decade,” he said, adding that the 2016 withdrawal of the most valuable bank notes and the introduction of a general services tax in 2017 were among government steps that forced businesses to change the way they operated.

Source: livemint.com