Sensex and Nifty scale fresh peaks; financials, IT stocks shine

Equity benchmark Sensex defied gravity for the tenth straight session to shut at a fresh lifetime excessive on Tuesday as sturdy shopping for in monetary and IT stocks offset lacklustre world cues.

Persistent international fund inflows supported the benchmarks, although a weakening rupee capped the positive factors, merchants stated.

Despite opening on a unfavourable word, the 30-share BSE index pared all losses and staged a wise recovery to finish 260.98 factors or 0.54 per cent greater at 48,437.78. It touched an all-time excessive of 48,486.24 in the course of the day.

The Sensex has closed at file highs for seven periods on the trot.

The broader NSE Nifty rose 66.60 factors or 0.47 per cent to settle at a brand new peak of 14,199.50. It scaled a file intra-day excessive of 14,215.60.

M-cap of BSE-listed companies zoom to file excessive

Total market capitalisation of all listed corporations on the BSE has zoomed to a file excessive of over Rs 191 lakh crore.

Till Monday’s commerce, markets recorded their ninth straight session of achieve.

During this time, the BSE Sensex jumped 2,622.84 factors or 5.75 per cent and closed above the 48,000-mark for the primary time on Monday.

In the previous 9 buying and selling periods, the market capitalisation of BSE-listed companies have jumped a whopping Rs 12,89,863.39 crore to a file Rs 1,91,69,186.44 crore ($2.6 trillon).

In early Tuesday commerce, the market capitalisation of BSE-listed corporations was at Rs 1,91,25,467.48 crore.

Axis Bank was the highest gainer within the Sensex pack, rallying 6.31 per cent, adopted by HDFC, IndusInd Bank, TCS, Asian Paints, HCL Tech, Titan and ICICI Bank.

On the opposite hand, ONGC, Bajaj Finance, NTPC, M&M and Reliance Industries had been among the many laggards, tumbling as much as 2.06 per cent.

“Domestic equities noticed a brisk recovery from right now’s low primarily led by sharp rebound in banking and IT stocks. Continued enchancment in COVID-19 recovery charges together with doubtless graduation of vaccination drive shortly and sustained enchancment in key financial knowledge defied weak world markets.

“IT stocks witnessed strong buying ahead of TCS’ 3Q FY21 numbers…Key economic data for Dec’20 have been quite encouraging, which along with likely commencement in vaccination drive in India have bolstered investors’ confidence. Hence, domestic equities are likely to remain in buy on dips mode,” stated Binod Modi, Head Strategy at Reliance Securities.

BSE bankex, finance, IT, teck, client durables and capital items indices rose as much as 1.90 per cent, whereas steel, power, realty, oil and fuel, primary supplies and auto closed decrease.

Broader BSE midcap and smallcap indices climbed as a lot as 1.38 per cent.

Global markets had been combined after Britain introduced a fresh nationwide coronavirus lockdown, whereas Wall Street wilted underneath promoting strain within the in a single day session.

Elsewhere in Asia, bourses in Shanghai, Seoul and Hong Kong ended on a optimistic word, whereas Tokyo was within the purple.

Stock exchanges in Europe had been buying and selling combined in early offers.

Meanwhile, the worldwide oil benchmark Brent crude futures rose 0.69 per cent to USD 51.44 per barrel.

The rupee depreciated by 15 paise to complete at 73.17 towards the US greenback.


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