Millennium Post

Sensex, Nifty gallop to closing highs on recovery hopes, vaccine boost

Sensex, Nifty gallop to closing highs on recovery hopes, vaccine boost

Mumbai: Equity benchmarks surged to lifetime closing highs on Tuesday as better-than-expected GDP data and progress on the COVID-19 vaccine front gave fresh impetus to investor bullishness. A strengthening rupee and persistent foreign capital inflows further boosted market sentiment, traders said.

The 30-share BSE Sensex zoomed 505.72 points or 1.15 per cent to end at its fresh closing record of 44,655.44.

Similarly, the broader NSE Nifty surged 140.10 points or 1.08 per cent to close at its all-time high of 13,109.05.

Sun Pharma was the top performer in the Sensex pack, spurting 5.51 per cent, followed by IndusInd Bank, Tech Mahindra, ONGC, Bharti Airtel, Infosys, ICICI Bank and Bajaj Auto.

On the other hand, Kotak Bank, Nestle India, Titan, Bajaj Finance, HDFC Bank and NTPC were among the main laggards, shedding up to 1.40 per cent.

World equities perched near all-time highs as strong factory output figures from China bolstered expectations of a swift economic recovery.

Barring consumer durables, all BSE sectoral indices finished in the green, led by realty (3.49 per cent), telecom (2.52 per cent), teck (2.42 per cent) and IT (2.39 per cent). The broader BSE midcap and smallcap indices rose up to 0.94 per cent.

Elsewhere in Asia, bourses in Shanghai, Tokyo, Hong Kong and Seoul ended with significant gains. Stock exchanges in Europe were trading mixed in early deals. Brent crude futures, the global oil benchmark, was trading 0.10 per cent lower at $47.83 per barrel. Foreign institutional investors remained net buyers in the capital markets as they purchased shares worth Rs 7,712.98 crore on Friday, according to provisional exchange data.

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