Sensex, Nifty Gain For Fifth Session In A Row, Close At Record Highs


2020-12-29 10:40:44

Sensex, Nifty Gain For Fifth Session In A Row, Close At Record Highs

The S&P BSE Sensex and NSE Nifty 50 indexes rose for fifth session in a row on Tuesday and closed at record highs led by gains in banking and financial services shares. The benchmarks staged a gap up opening wherein the Sensex rose as much as 360 points to hit record high of 47,714.55 and Nifty 50 index advanced 95 points to hit an all-time high of 13,967.60. HDFC, ICICI Bank, HDFC Bank, Infosys and Axis Bank were top movers in the Sensex.

The Sensex rose 259 points to close at record high of 47,613.08 and Nifty 50 index advanced 59 points to close at an all-time high of 13,932.60.

Gush of liquidity by foreign investors is lifting the benchmarks to new highs on a daily basis, analysts said. In Monday’s trading session, foreign institutional investors (FIIs) bought shares worth Rs 1,589 crore. So far this calendar year, FIIs have purchased Indian equities worth $22.21 billion while they have been net sellers in debt markets to the tune of $14 billion, data from NSDL showed.

Six of 11 sector gauges compiled by the National Stock Exchange ended higher led by the Nifty Private Bank index’s 1.55 per cent gain. Nifty Bank, Financial Services, IT and PSU Bank indexes also rose between 0.7-1.4 per cent.

On the other hand, Nifty Metal and Media indexes declined over a per cent each.

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Mid- and small-cap shares ended on a flat note as Nifty Midcap 100 index declined 0.1 per cent and Nifty Smallcap 100 index ended 0.01 per cent higher.

IndusInd Bank was top Nifty gainer, the stock rose 6 per cent to close at Rs 916. Tech Mahindra, Axis Bank, ICICI Bank, HCL Technologies, HDFC, HDFC Bank, ITC, GAIL India and State Bank of India also rose between 11-2 per cent.

On the flipside, Hindalco, Nestle India, Coal India, Tata Motors, NTPC, JSW Steel, Power Grid and Dr Reddy’s Labs were among the losers.

The overall market breadth was neutral as 1,553 shares closed higher while 1,472 ended lower on the BSE.



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