Both Indian benchmark indices opened strong on Monday, with both hitting new lifetime highs. At 11 am, Bombay Stock Exchange Sensex was 195.25 points up at 32,224.14, and the broader National Stock Exchange Nifty was trading 52.50 points up at 9,967.15.

Reliance Industries, ITC and Wipro were the major gainers on both indices. Asian Paints, Oil and Natural Gas Corporation, and Dr Reddy’s Laboratories were in the red. Shares of Wipro hit a new 52-week high of Rs 292.4, according to The Financial Times. RIL, too, is close to its all-time highest at Rs 1,620.

PSU bank stocks led the rally on the NSE, followed by , IT, media, realty and private banking firms. Auto, metal and pharma stocks performed poorly.

The rupee dropped by 11 paise to 64.43 against the US dollar.