Sensex crosses 81,000 for 1st time, Nifty settles near 24,830
Sensex climbed 296 points to 81,007 and Nifty gained 90 points to 24,831 in early trade on Monday.
The lift came after upbeat comments from the US about its relationship with India and positive signals from global markets.
Asian indices like South Korea's Kospi and Japan's Nikkei also traded higher.
Trump-Modi meet boosts investor sentiment
A friendlier vibe between the US and India—highlighted by President Trump calling it a "special relationship" and PM Modi saying he "deeply appreciated and fully reciprocated the remarks"—helped ease trade worries and gave investors more confidence.
Plus, upcoming GST rate cuts are expected to make automobiles and consumer durables cheaper, which is good news for anyone eyeing a new ride or device.
Rate cut hopes lift US stocks
Investors are hopeful for a US Fed rate cut after weak jobs data, making stocks more attractive.
Auto shares jumped thanks to GST price cuts—Bharat Forge and Ashok Leyland led the way as Nifty Auto climbed over 1.5%.
Metal stocks also gained after Morgan Stanley predicted stronger steel demand worldwide.