Sensex zooms 380 pts, ends at record high on US stimulus cheer, Brexit deal

All that happened in the markets today

The Indian markets closed at fresh lifetime high on Monday on broad-based buying amid positive global cues after US President Donald Trump signed into law a $2.3 trillion pandemic aid and spending package. Moreover, the United Kingdom's historic trade deal with the European Union also aided investor sentiment.

Among the headline indices, the S&P BSE Sensex closed 380 points higher at 47,354. The index hit an intra-day high of 47,407. The broader Nifty50 index closed at 13,873. State Bank of India and Titan (both up 3%) were the top Sensex gainers, followed by Larsen & Toubro and IndusInd Bank (both up 2%). Out of the 30 Sensex constituents, 26 ended the day in the green.

All the Nifty sectoral indices, barring Nifty Pharma, ended higher, led by Nifty Realty and Nifty Metal indexes, both up 2.6 per cent.

The broader markets outperformed the benchmarks, with the S&P BSE MidCap and SmallCap indexes gaining 0.8 per cent and 1.5 per cent, respectively.

Shares of Tata Motors ended the session 5.9 per cent higher at Rs 186.30 on the BSE after the United Kingdom (UK) and the European Union negotiators finalized their historic post-Brexit trade agreement.

Pilani Investments and Industries Corporation soared 12.85 per cent to Rs 2,837 on the BSE ahead of 2:5 bonus issue. The stock will turn ex-date for bonus shares on Thursday, December 31.

Global markets

The euro STOXX index rose 0.9 per cent in the first trading session after London and Brussels signed an eleventh hour deal on Thursday evening that preserves zero tariff access to each other’s markets.U.S. S&P futures rose 0.6 per cent in their first trade after the Christmas holiday, edging near a record touched last week.

Earlier Japan’s Nikkei advanced 0.7 per cent and China stocks also rose, helped by strong industrial profit data. MSCI’s broadest index of Asia-Pacific shares outside Japan rose 0.1 per cent.

(with inputs from Reuters)

3:56 PM

MARKET VIEW | Ajit Mishra, Religare Broking

Markets started the week on a buoyant note and posted decent gains led by positive global cues. The optimism over the news that the US President has signed the stimulus package triggered healthy buying in the equity markets. Besides, participants also took note of the beginning of the vaccine drive in various parts of the world. Consequently, the Nifty index settled around the day’s high at 13,883 levels. We’re mirroring the global markets and indications are in favour of prevailing up move to continue and Nifty can test another milestone of 14,000 mark soon. On the domestic front, Auto sales numbers and PMI data would be actively tracked by participants ahead. Meanwhile, we suggest maintaining a positive yet cautious stance and avoiding contrarian trades.

3:45 PM

HDFC twins, ICICI Bank among top contributors to Sensex today

3:44 PM

Nifty sectoral indices at close | All indices, except, Nifty Pharma end in green

3:42 PM

Sensex Heatmap | Top index gainers & losers

-- 26 Sensex stocks end in the green

-- Titan best Sensex performer

-- HUL top laggard

3:40 PM

CLOSING BELL

Sensex scales fresh record high, rises 380 points or 0.81 per cent to end at 47,354; Nifty too logs new closing high of 13,873, up 124 points or 0.9 per cent

3:21 PM

Heatmap: S&P BSE Sensex gainers and losers at this hour

3:11 PM

Dixon soars 7% as arm inks pact with Motorola to manufacture smartphones

Shares of Dixon Technologies (India) rose 7 per cent to Rs 13,622 on the BSE on Monday after the company’s wholly-owned subsidiary Padget Electronics entered into an agreement with Motorola for manufacturing of smartphones. The products will be manufactured at Padget's manufacturing facility situated at Noida, Uttar Pradesh, the company said. READ MORE

apps, mobile, smartphones, phones, software, development, technology, data, internet

3:10 PM

Brexit to benefit select Indian firms, but only in the long-run: Analysts

The United Kingdom (UK) and the European Union (EU) last week struck a historic Brexit deal that cheered global markets, including investors back home. Though most analysts remain bullish on the prospects of companies that do business with the region, but caution that the benefit, if any, will be visible only over the long-term. READ MORE

2:56 PM

Wipro's Rs 9,500 cr buyback opens tomorrow. Should you tender your shares?

IT services major Wipro's share buyback programme will commence on December 29 and close on January 11, 2021. In November, shareholders had approved the buyback plan for purchase of up to 23.75 crore equity shares at Rs 400 per share, aggregating to an amount of up to Rs 9,500 crore. The company has set December 11, 2020 as the record date for determining eligibility for the buyback. Siddharth Khemka, head of retail research at Motilal Oswal Financial Services, said that since the IT stocks, including Wipro, have done well over the past few months, investors looking for a payout can tender their shares. READ MORE

2:50 PM

Sensex hits fresh record high in afternoon deals, tops 47,400

2:41 PM

NEWS FLASH | TCS m-cap crosses Rs 11 lakh crore; stock hits 52-week high of Rs 2,498.20

2:26 PM

Tata Motors, Infosys: How to trade UK-linked Indian stocks post Brexit deal

Tata Consultancy Services Limited (TCS): After hitting a new all-time high above Rs 2,873 recently, the stock is able to generate buying momentum at higher levels. The gradual upside toward this new high is witnessing a steady rise in the Relative Strength Index (RSI), which has successfully crossed the 55 value. Going forward, till the counter trades above Rs 2,800 levels on the closing basis, the upside move may see a rally in the direction of Rs 3,200 levels, as per the daily chart. READ MORE

2:17 PM

Pilani Investments surges 14%, hits 34-month high ahead of 2:5 bonus issue

Shares of Pilani Investments and Industries Corporation soared 14 per cent to hit 34-month high of Rs 2,870 on the BSE in intra-day trade on Monday ahead of 2:5 bonus issue. The stock will turn ex-date for bonus shares on Thursday, December 31. The stock was trading at its highest level since February 2018. READ MORE