BENGALURU, Dec 4 Reuters Financial and energy stocks led Indian shares to new alltime highs on Monday as key wins for the ruling party in state elections lifted the broader domestic market, already boosted by strong macroeconomic data and easing global interest rate expectations.

The NSE Nifty 50 index rose 1.78 to 20,629.25 points, notching a record high for second session in a row. The SP BSE Sensex climbed 1.75 to an alltime high of 68,653.27, as of 207 p.m. IST.

Financial services rose up 2.6 and energy stocks climbed 3, leading sectoral gains.

Index heavyweights Reliance Industries, ICICI Bank, HDFC Bank gained between 1 and 3.5.

Small and midcaps gained about 1 each, also hitting new alltime highs.

India39;s ruling Bharatiya Janata Party BJP secured key victories in three of the four state assembly elections, results showed over the weekend.

The party in Indian equity markets will go on, said Gaurav Dua, senior vice president and head of capital market strategy at Sharekhan by BNP Paribas.

The strong macroeconomic data, favourable political outcome from state assembly elections and improving global environment has moved sentiment to riskon from riskoff, Dua added.

Dua expects a further 58 rally in the benchmark Nifty 50 between now and Lok Sabha elections in May 2024.

The Nifty had hit a record high on Friday, on the back of strong quarterly growth and monthly factory activity data.

Larsen Toubro jumped 4 and was among the top Nifty 50 gainers after…