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Indian headline index, the S&P BSE Sensex surged 500 points on Monday morning and touched the 52,000 mark for the first time ever while the broader Nifty50 index was tested 15,300.

The Nifty sectoral indices were painted green, led by Nifty Private Bank index, up 1.7 per cent.

In the broader markets, the S&P BSE MidCap and SmallCap indices were up half a per cent, each.

Indian indices started the week at record highs following a rally in Asian peers as successful coronavirus vaccine rollouts globally raise hopes of a rapid economic recovery. Back home, all sectors witnessed massive buying led by banks and financials in opening lifting the benchmarks to their all-time high mark.

IndusInd Bank (up 2%) was the top Sensex gainer, followed by Kotak Mahindra Bank, ICICI Bank, HDFC Bank, and Bharti Airtel (all up over 1%).

Asian shares advanced to record highs on Monday and oil rose to a more than one year peak as successful coronavirus vaccine roll-outs globally raise hopes of a rapid economic recovery amid new fiscal aid from Washington.

Japan’s Nikkei climbed 1.3 per cent, despite data showing the country’s recovery from its worst postwar recession slowed in the fourth quarter. Australia’s benchmark index was up 1 per cent.

The S&P 500 and Nasdaq set record closing highs on Friday as investors bought energy, financial and materials shares and sold big tech stocks in anticipation of new fiscal aid from Washington to help the U.S. economy recover.

The Dow Jones Industrial Average rose 27.7 points, or 0.09 per cent, to 31,458.4, the S&P 500 gained 18.45 points, or 0.47 per cent, to 3,934.83 and the Nasdaq Composite added 69.70 points, or 0.5 per cent, to 14,095.47.