Share Market Update: Nifty, Sensex Touch Record Highs Amid Broad-Based Gains – Unblendednews

Share Market Update: Nifty, Sensex Touch Record Highs Amid Broad-Based Gains


Stock Market Update: Banking and metal shares led gains across sectors.

Domestic stock markets started Monday’s session on a positive note, with the 30-scrip benchmark index S&P BSE Sensex scaling a new record high in early trade, amid optimism on a recovery from the coronavirus pandemic-caused slowdown. The Sensex index rose 274.33 points, or 0.60 per cent, to touch 46,373.34 at the strongest level in the first few minutes of trade, and the broader NSE Nifty 50 benchmark climbed up as much as 83.65 points, or 0.62 per cent, to 13,597.50, from its previous close — both all-time highs. Gains across sectors, led by banking and metal shares, pushed the markets higher. (Also Read: Stocks To Watch Today)

At 9:22 am, the Sensex traded 245.58 points, or 0.53 per cent, higher at 46,344.59, while the Nifty was up 78.15 points, or 0.58 per cent, at 13,592.00. (Track Sensex, Nifty Here)

Cipla, Coal India, ONGC, Indian Oil and Larsen & Toubro, trading between 1.54 per cent and 4.52 per cent higher, were the top percentage gainers in the Nifty basket of 50 shares. 

On the other hand, Eicher Motors, HDFC Life and Tech Mahindra, down 0.42-0.65 per cent each, were the weakest among seven laggards in the index. 

ICICI Bank, HDFC and Larsen & Toubro were the biggest contributors to the gain in Sensex.

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Burger King India — which runs the franchise of Restaurant Brands International’s US chain Burger King — will debut later during the session on Monday. The initial public offering was subscribed more than 150 times.

Analysts awaited macroeconomic data for near-term cues. Official data on changes in wholesale inflation in the country will be released at noon, and consumer inflation after market hours today.

According to a poll by news agency Reuters, consumer inflation likely stood at 7.10 per cent in November, but remained above the Reserve Bank of India’s target amid high food and petrol prices. Official data is due on Monday.

Equity markets across Asia registered cautious gains as investors cheered progress on coronavirus vaccines and gauged the chance of added US fiscal and monetary stimulus. MSCI’s broadest index of Asia-Pacific shares outside Japan was up 0.10 per cent at the last count.  



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