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MARKET WRAP: Indices end at record closing high, Sensex climbs 260 pts

All that happened in the markets today

SI Reporter  | New Delhi 

EVENT HIGHLIGHTS

A broker laughs while speaking to a colleague, as they trade on their computer terminals at a stock brokerage firm in Mumbai
Indian equities hit fresh lifetime highs on Monday supported by positive global and domestic cues. The official signing of Phase-1 of US-China trade deal, scheduled for January 15, coupled with recovery in the industrial production data lifted sentiment at D-Street today. Besides, healthy December quarter numbers by IT bellwether Infosys and appreciation of rupee to a one-month high kept sentiment buoyed. 

Market participants were, however, eyeing consumer price index (CPI) inflation numbers for the month of December, slated to be released later in the evening.

The benchmark S&P BSE Sensex scaled fresh peak of 41,899.63 in the early morning trade on Monday. The 30-share pack, however, settled the day at record closing high of 41,859.69 level, up 259.97 points or 0.62 per cent. Infosys closed the day as the top gainer, up over 4.5 per cent, followed by IndusInd Bank, Bharti Airtel, and HUL. On the downside, Tata Consultancy Services (TCS), SBI, and Axis Bank settled as top losers. 

On the NSE, the broader Nifty50, too, hit a record high of 12,337.75, surpassing its previous high of 12,311 hit on Friday, January 10. At close, the index was at 12,329 level, up 72.20 points or 0.59 per cent.

Sectorally, all key indices managed to settle the day in the green. Nifty Realty index charged ahead during the fag-end of the session to close nearly 2 per cent higher. NIfty IT and FMCG indices were the second-best sectoral indices today, up over 1 per cent.

The broader outperformed the benchmarks today with the S&P BSE mid-cap index gaining for the fifth straight day to settle 0.80 per cent higher at 15,280.20 level. The S&P BSE small-cap index, on the other hand, edged 0.93 per cent higher at 14,277.58.

GLOBAL CUES

Asian shares shook off a quiet start to reach new 19-month highs on Monday ahead of the expected signing of a Phase 1 China-US trade deal.

MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.61 per cent higher, touching its highest point since June 2018. South Korea’s trade-sensitive Kospi added 1.01 per cent and Hong Kong’s Hang Seng was up 0.95 per cent.

The benchmark European STOXX 600 index was up 0.02% by 1:40 pm.

(With inputs from Reuters)

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