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Indices end at record highs; Sensex zooms 704 points amid firm global cues

All that happened in the markets today

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Markets | US Presidential elections 2020 | Donald Trump

SI Reporter  | New Delhi 

EVENT HIGHLIGHTS

Representative image
ICICI Bank, HDFC Bank, Infosys, and Reliance Industries (RIL) were the major contributors to the Sensex's gain today.
Continuing their northward movement, the benchmark indices gained around 1.6 per cent to settle at record high levels on Monday.  

The S&P BSE Sensex rallied 704 points, or 1.68 per cent to end the day at 42,597 levels. In the intra-day deals, the index hit a high of 42,645.33 levels. NSE's Nifty index, too, surpassed its previous high of 12,430.5 to settle at 12,461, up 198 points, or 1.61 per cent.

ICICI Bank, HDFC Bank, Infosys, and Reliance Industries (RIL) were the major contributors to the Sensex's gain today. Of 30 constituents, 27 advanced and three declined. 

The broader market, however, underperformed the headline indices. The S&P BSE MidCap index gained 1 per cent to 15,560 levels and the S&P BSE SmallCap added 0.57 per cent to 15,305 levels. 

Among sectoral indices on the NSE, all the indices advanced while Nifty Media remained unchanged. 

Global markets

World stocks hit a record high on Monday and the dollar stayed weak as expectations of better global trade ties and more monetary stimulus under US President-elect supported risk appetite. 

E-mini futures for the S&P 500 jumped more than 1.4% on Monday. MSCI’s broadest index of Asia Pacific shares outside of Japan jumped 1.3% after hitting its highest since January 2018. European stocks, too, rallied in the trade. 

In commodities, oil prices rose more than 2 per cent, with Brent futures topping $40 a barrel. 

(With inputs from Reuters)

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