NEW DELHI: Equity indices scaled new peaks on Monday as investors cheered the government’s decision to approve emergency use of two Covid-19 vaccines. The benchmark BSE sensex jumped 308 points or 0.64 per cent to finish at 48,177; while the broader NSE Nifty moved 114 points or 0.82 per cent to settle at 14,133.
The Centre on Sunday approved for emergency use two coronavirus vaccines – one developed by AstraZeneca and Oxford University and the other by Bharat Biotech.
Top gainers in the BSE pack included ONGC, TCS, HCL Tech, Tech Mahindra, Infosys and Mahindra & Mahindra with their stocks rising as much as 4.02 per cent.
On the NSE platform, sub-indices Nifty Metal outperformed the index by jumping as much as 5.09 per cent.
The vaccine approvals and the nationwide vaccine delivery trial run being carried out without any major glitches were positives, Gaurav Garg, head of research at CapitalVia Global Research in Indore, told news agency Reuters.
“More details (on India’s vaccination plans) is coming out … it might take only 6-10 months for everybody to get vaccines,” Garg added.
Improved auto sales and GST (goods and services tax) collection also supported the upward market trend.
Domestic equities continue to look firm. Strong economic key data in terms of GST collections, power demand and railway freight for December 2020 will continue to offer strength to the market, Binod Modi, head-strategy at Reliance Securities, told news agency PTI.
Meanwhile, foreign portfolio investors (FPIs) were net buyers in the capital market as they purchased shares worth Rs 506.21 crore on a net basis on Friday, according to provisional exchange data.
(With inputs from agencies)