Sensex surges 380 points to settle at fresh closing high; Nifty ends at 13,873

2020-12-28 10:16:10

NEW DELHI: Equity indices continued to rise on Monday with both the BSE and NSE indices scaling fresh closing highs.
After scaling an intra-day high of 47,407, the 30-share BSE index finished 380 points or 0.81 per cent higher at 47,354; while the broader NSE Nifty settled 124 points or 0.90 per cent at 13,873.
SBI, Titan, L&T, IndusInd Bank, Ultra Cemco, Kotak Bank and Asian Paints were the top gainers in the sensex pack rising as much as 3.34 per cent. Twenty-six out of 30 stocks finished in green.
While Hindustan Unilever, Sun Pharma, Dr Reddy and Bajaj FinServ were the only losers falling up to 0.41 per cent.
On the NSE platform, sub-indices Nifty PSU Bank, Metal, Bank and Private Bank gaining as much as 2.69 per cent.
Global stock markets have been awash with large amounts of liquidity, thanks to measures taken by various central banks to help cope with the fallout from the ongoing pandemic. Analysts, however, have warned that stocks remain overvalued and are due for a correction.
“Absence of negative trigger is more relevant now, there is no sign of reversal of liquidity or interest rate trajectory and as long as those signs are not there, markets will continue to chug along,” Deepak Jasani, head of research, HDFC Securities told news agency Reuters.
The domestic indices have each gained about 7 per cent so far in December, with the former hitting record intra-day highs 11 times this month.
Equity indices were closed on Friday on account of Christmas.
Meanwhile, foreign portfolio investors (FPIs) purchased shares worth a net Rs 1,225.69 crore on Thursday, as per exchange data.
(With agency inputs)

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