BENGALURU: Indian shares opened at a record high on Monday, boosted by gains in banks after quarterly results of key lenders, while energy stocks rose after power producer NTPC’s strong earnings.

The NSE Nifty 50 rose 0.30% to a record high of 24,913.5 points as of 9:30 a.m. IST, while the S&P BSE Sensex added 0.4% to hit record high at 81,612.1.

Indian benchmarks rose for eight straight weeks through Friday, logging their longest weekly winning streak since 2010.

The heavyweight bank index advanced about 1% on Monday, with private lender ICICI Bank rising 2% after reporting a bigger-than-expected first-quarter profit, helped by robust loan growth and healthy core lending income.

Indian shares log best weekly winning streak since 2010

Bandhan Bank jumped 9.6% after its first-quarter profit inched higher.

The Nifty energy index rose around 1%, with heavyweight Reliance Industries up 0.8%, while state-owned NTPC rising 2.5% after reporting strong earnings.