Mumbai/IBNS: Indian stock market hit a fresh lifetime high in early trade on Monday (June 10), with benchmark indices Sensex and Nifty 50 rising above 77,000 and 23,400, respectively, after Narendra Modi took oath as India's Prime Minister for a third consecutive time.

According to reports, soon after the market opening on Monday, the BSE Sensex hit a record high of 77,079.04, and NSE Nifty 50 reached a lifetime high of 23,411.90, while buying was also seen in the broader markets as the Nifty Midcap 100 and the Nifty Smallcap 100 traded higher.

Among sectors, Nifty PSU Bank, Nifty Oil & Gas, Nifty Realty, Nifty Auto and Nifty Pharma led the gains, reports said.

However, Nifty IT was trading in the red.

As per reports, the Indian domestic equity market sentiment improved as concerns over political stability and policy continuity warned after the new NDA 3.0 government led by Prime Minister Narendra Modi was sworn in on Sunday (June 9).