Sensex, Nifty hit record high led by banks shares

Equity barometers firmed up once again and hit record high levels in mid-afternoon trade. Positive global cues and robust foreign inflows boosted sentiment. At 14:20 IST, the barometer index, the S&P BSE Sensex, rose 99.43 points or 0.21% at 48,276.31. The Nifty 50 index was up 16.55 points or 0.12% at 14,150.40.

The S&P BSE Sensex hit a record high of 48,359.53 while the Nifty scaled a record high of 14,172.40 in mid-afternoon trade.

The broader market was trading firm. The S&P BSE Mid-Cap index added 0.83% while the S&P BSE Small-Cap index gained 0.5%.

Buyers outpaced sellers. On the BSE, 1,459 shares rose and 1,271 shares fell. A total of 158 shares were unchanged.

Foreign portfolio investors (FPIs) bought shares worth Rs 1,843.22 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 715.21 crore in the Indian equity market on 4 January 2021, provisional data showed.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 8,56,75,442 with 18,53,344 deaths. India reported 2,31,036 active cases of COVID-19 infection and 1,49,850 deaths while 99,75,958 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.

A total of 38 people have tested positive for the new UK variant of SARS-CoV-2 in India so far, the Union Health Ministry said on Monday. These include the 29 cases which were announced till Friday.

The new variant of coronavirus disease - B.1.1.7 - has been dubbed as highly infectious by scientists and medical experts as the UK government has confirmed that the infection rates have increased faster than expected in the affected areas.

Buzzing Index:

The Nifty Bank index gained 0.72% to 31,437.40. The index fell 0.35% in past four trading sessions.

Axis Bank (up 4.77%), RBL Bank (up 3.15%), IDFC First Bank (up 1.81%), Federal Bank (up 1.28%), HDFC Bank (up 0.42%) and Bandhan Bank (up 0.37%) were top gainers in banking space.

IndusInd Bank rose 1.68% after the private lender said its deposits increased 11% to Rs 2,39,600 crore in Q3 December 2020 from Rs 2,16,713 crore in Q3 December 2019. Deposits rose 4.96% last month compared with Rs 2,28,279 crore in Q2 September 2020. Retail deposits and deposits from small business customers amounted to Rs 85,914 crore in Q3 FY21, up by 13.63% from Rs 75,610 crore in Q2 FY21. IndusInd Bank's net advances stood at Rs 2,07,691 crore in Q3 FY21, a tad higher compared with Rs 2,07,413 crore in the same period last year.

Yes Bank fell 0.28%. The bank's loans & advances rose 1.3% to Rs 169,050 crore as on 31 December 2020 compared with Rs 166,923 crore as on 30 September 2020. Deposits increased 7.7% to Rs 146,233 crore as on 31 December 2020 as against Rs 135,815 crore as on 30 September 2020. The bank's CASA improved by 12.6% to Rs 37,973 crore as on 31 December 2020 from Rs 33,713 crore reported as on 30 September 2020. CASA/Total Deposits (excluding Certificate of Deposits) ratio stood at 27.4% as on 31 December 2020 as against 26.2% as on 30 September 2020.

Numbers to Track:

In the foreign exchange market, the partially convertible rupee fell to 73.18 compared with its previous closing of 73.02.

The yield on 10-year benchmark federal paper fell to 5.849% as compared to its previous close of 5.858%.

MCX Gold futures for 5 February 2021 settlement rose 0.12% to Rs 51,488.

The US Dollar index (DXY), which tracks the greenback's value against a basket of currencies, fell 0.14% to 89.718.

In the commodities market, Brent crude for March 2021 settlement fell 6 cents to $51.03 a barrel. The contract declined 1.37% to settle at $51.09 in the previous trading session.

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