Sensex Closes 154 Points Higher, Nifty At 13,558 As Markets Clock Record Closing Highs

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Domestic stock markets scaled new record peaks on Monday amid gains across most sectors, as investors remained optimistic about a recovery from the coronavirus pandemic-caused slowdown. The Sensex index rose 274.33 points, or 0.60 per cent, to touch 46,373.34 at the strongest level during the session, and the broader NSE Nifty 50 benchmark climbed up as much as 83.65 points, or 0.62 per cent, to 13,597.50 — both all-time highs.

  1. The Sensex ended 154.45 points, or 0.34 per cent, higher at 46,253.46, and the Nifty settled at 13,558.15, up 44.30 points, or 0.33 per cent, from its previous close. 
  2. ONGC, Larsen & Toubro, Cipla, Coal India and Indian Oil, closing between 2.61 per cent and 5.94 per cent higher, were the top percentage gainers in the Nifty basket of 50 shares.
  3. On the other hand, Eicher Motors, Hero MotoCorp, Mahindra & Mahindra, HDFC Life and Tech Mahindra, down 1.20-2.52 per cent each, were the worst hit among 19 laggards in the index.
  4. ICICI Bank, Larsen & Toubro, Kotak Mahindra Bank and ONGC were the biggest contributors to the gain in Sensex.
  5. Analysts say the markets are continuing a liquidity-driven rally. “(A) good amount of liquidity has come from FIIs and that has driven the market substantially,” said Anita Gandhi, director at Arihant Capital Markets.
  6. The Sensex and Nifty have posted six straight weeks of gains, boosted by record inflows from foreign institutional investors (FIIs), progress on COVID-19 vaccines globally and signs of a nascent economic recovery in the country.
  7. Analysts awaited macroeconomic data for near-term cues. Official data on changes in consumer inflation will be released after market hours. Separate data released at noon showed wholesale inflation hit a nine-month high of 1.55 per cent in November.
  8. According to a poll by news agency Reuters, consumer inflation likely stood at 7.10 per cent in November, but remained above the Reserve Bank of India’s target amid high food and petrol prices. Official data is due on Monday.
  9. Burger King India — which runs the franchise of Restaurant Brands International’s US chain Burger King — made a blockbuster debut with its shares listing at a 92.25 per cent premium over the issue price. Burger King’s IPO was subscribed more than 150 times.
  10. Equity markets across Asia registered cautious gains as investors cheered progress on coronavirus vaccines and gauged the chance of added US fiscal and monetary stimulus. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.10 per cent at the last count.  

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