Nifty Above 13,400, Sensex Jumps Over 200 Points Led By Reliance Industries


The country’s benchmark stock indices S&P BSE Sensex and NSE Nifty 50 index continue to trade at record highs after witnessing a mild profit booking in late morning deals. The Nifty 50 index was in uncharted territory, with the index above 13,400 for the first time and Sensex advancing over 200 points in the last hour of trade. Reliance Industries was the top mover in the Nifty and Sensex. The stock rose over 2 per cent after its Chairman and Managing Director Mukesh Ambani hinted at rolling out 5G network by the second half of 2021.

As of 2:06 pm, the Sensex was up 0.47 per cent or 212 points at 45,639 and Nifty was up 0.37 per cent or 49 points at 13,405.

The markets have been hitting new highs on news of progress in Covid-19 vaccine development amid sustained buying of Indian shares by Foreign Institutional Investors (FIIs). FIIs on Monday bought shares worth Rs 3,793 crore.

Five of 11 sector gauges compiled by the National Stock Exchange were trading higher, led by Nifty PSU Bank index’s nearly 5 per cent gain. IT, banking, financial services and real estate shares were also witnessing buying interest.

On the other hand, metal, pharma and media shares were witnessing selling pressure.

Newsbeep

Mid- and small-cap stocks rebounded in late noon trading as Nifty Midcap 100 index rose over 2 per cent from day’s lowest level and Nifty Smallcap 100 index climbed 2.3 per cent.

UltraTech Cement was top Nifty gainer; the stock rose nearly 3 per cent to Rs 5,194. Reliance Industries, Tata Consultancy Services, Infosys, Wipro, State Bank of India, HDFC Bank, HCL Technologies, Bajaj Auto, Kotak Mahindra Bank and HDFC Life also rose 0.4-2.2 per cent each.

On the flip side, Hindalco, Adani Ports, IndusInd Bank, Coal India, Sun Pharma, Asian Paints, Grasim Industries, Tech Mahindra and Tata Motors were among the losers.

The overall market breadth turned neutral as 1,517 shares were declining while 1,349 were advancing on the BSE.



Source link

Leave a Reply

Your email address will not be published. Required fields are marked *