On Monday, the Sensex rose by 308 points to its new high amidst a surge in stocks of big companies like Tata Consultancy Services, Infosys and Hindustan Unilever. The acceptance of the Kovid-19 vaccine also strengthened investor sentiment.
The 30-share BSE Sensex gained 307.82 points, or 0.64 per cent, to 48,176.80 points. This is its new record. During the day’s trading, the Sensex rose to an all-time high of 48,220.47 points. Similarly, the National Stock Exchange’s Nifty gained 114.40 points or 0.82 percent to close at its record level of 14,132.90 points. It also touched an all-time high of 14,147.95 during the day’s trading.
Among the Sensex companies, ONGC shares rose the most by nearly four per cent. Shares of TCS, HCL Tech, Tech Mahindra, Infosys, Mahindra & Mahindra, Hindustan Unilever and L&T also gained. On the other hand, shares of Kotak Bank, Bajaj Finance, Asian Paints, Titan and Powergrid declined.
On Monday, the Sensex rose over 300 points in early trade on the back of gains in key stocks such as ITC, Infosys and ICICI Bank. The 30-share sensitive index Sensex of BSE touched a lifetime high of 48,168.22 in early trade. It was trading at 27,73 points i.e. 0.57 percent at 48,141.71. The NSE Nifty also rose by 90.90 points, or 0.65 percent, to a record high of 14,109.40.
Experts said that two vaccines of Kovid-19 have been approved. The vaccination process is expected to begin soon. This strengthened the market sentiment. The Indian drug regulator has on Sunday approved the emergency use of Oxford-AstraZeneca’s Kovid-19 Vaccine Kovishield and the India-developed India Biotech Kovaxin.
Nikki India’s Manufacturing Procurement Managers Index (PMI) rose to 56.4 in December. This also strengthened the market position. In November it stood at 56.3.
Other Asian markets saw gains in China’s Shanghai Composite, South Korea’s Cospi and Hong Kong’s Hangseng, while Japan’s Nikki declined. European markets were in profit in early trade. Meanwhile, global benchmark Brent crude oil futures rose 1.31 percent to $ 52.48 a barrel.
Stock market closed on green mark last Friday
On Friday, the Sensex closed up 117.65 points, or 0.25 percent, to a new all-time high of 47,868.98. The Nifty also closed at an all-time high of 14,018.50. Foreign portfolio investors (FPIs) were net buyers in the capital market. As per preliminary data, he bought shares worth Rs 506.21 crore on a net basis on Friday.