Indices gain for 5th straight day, Sensex ends 259 pts up; banks outperform
All that happened in the markets today
SI Reporter New Delhi
The Indian benchmark indices extended their winning run to the fifth straight day on Tuesday, with major contribution from banks and financials.
Among the headline indices, the S&P BSE Sensex gained 259 points, or 0.55 per cent, to close at 47,613, a fresh closing high. The index hit an intra-day high and low of 47,715 and 47,362, respectively. The broader Nifty50 ended the day at 13,933, up 59 points, or 0.43 per cent.
IndusInd Bank (up 5%) was the top Sensex gainer, followed by Tech Mahindra and Axis Bank (both up 2%). On the other hand, Nestle India and NTPC slipped 1 per cent each while Reliance Industries also settled half a per cent lower. Out of the 30 Sensex constituents, 15 ended the day in the green.
The Nifty sectoral indices were mixed, with Nifty Bank index (up 1.4%) offsetting the losses in Nifty Metal index (up 1%).
Broader markets, meanwhile, underperformed their peers, with S&P BSE SmallCap index ending 0.16 per cent higher while the MidCap index slipped 0.07 per cent.
Vinod Nair, Head of Research at Geojit Financial services said, "A major part of the global developments like stimulus and Brexit deal are priced in the market. In the absence of major domestic or global events expected in the near-term, the market will focus on the upcoming Q3 earnings and stock-specific updates."
Global shares rose for the fourth straight day on Tuesday and oil followed suit as hopes of fresh U.S. stimulus teed up a strong end to the year for riskier assets. The MSCI World Index was up 0.3 per cent, extending recent gains after gains in Asia, where Japanese stocks hit a 30-year high. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.45 per cent.
Early gains in Europe were broad-based, with all major indexes rising, led by Britain’s blue-chip shares. They rose on their first day of trading since the Christmas Eve agreement of a trade deal with the European Union. The FTSE 100 rose 1.5 per cent in early deals, on course for its fourth straight day of gains, led by drugmaker AstraZeneca on news its Covid-19 vaccine is set to be granted emergency use approval within a few days.
(with inputs from Reuters)
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First Published: Dec 29 2020 | 7:57 AM IST