- 'No guarantee' Fed can tame inflation, spare jobs, says Jerome Powell
- Sebi permits FPIs to deal in exchange-traded commodity derivatives
- Gold choppy as investors weigh rate hikes against recession risks
- Smallcap World Fund offloads 2.5 mn Hikal Ltd shares worth Rs 62 crore
- HDFC raises Rs 4,000 cr via 21-month paper, attracts bids of over Rs 70K cr
- Market may be pricing in negatives for cement sector as demand stays flat
- How rupee shrugged off the fragile tag and outperformed despite shocks
- Mutual Fund industry largely under-penetrated in India, says Deepak Parekh
- Sebi lets FPIs to participate in exchange-traded commodity derivatives mkt
- Global shares trade lower ahead of US' first quarter economic growth report
Indices end near records; Sensex gains 529 pts; RIL up 2.5%, Infy dips 1%
Markets will remain shut on Friday on account of Christmas.
Topics
MARKET WRAP | Markets | Coronavirus
SI Reporter |
Last Updated at December 24, 2020 16:16 IST
EVENT HIGHLIGHTS
Frontline indices ended the session near record highs on Thursday as investors went on Christmas holiday in a festive mood. Reports that Britain and the European Union have closed in on a free-trade deal, while short covering in banking counters back home lifted the indices.
That apart, hopes for more fiscal spending and expectations that coronavirus vaccines will become more available next year also supported global sentiment.
The S&P BSE Sensex gained 529 points, or 1.14 per cent, to settle the day at 46,973.5 levels. Sun Pharmaceuticals, Axis Bank, Reliance Industries, HDFC, and Bajaj Finance, up between 2 per cent and 3 per cent, closed the day as top gainers on the Sensex. On the downside, profit-booking in IT and FMCG stocks resulted in Infosys, Nestle, and HCL Tech ending the day as top drags.
The broader Nifty50 closed at 13,749-mark, up 148 points or 1 per cent.
Among other sectoral indices on the NSE, Nifty Bank and Nifty Financial indices ended Thursday's session nearly 2 per cent higher each, while Nifty Pharma was up 1 per cent at close. Nifty IT index closed 0.65 per cent down.
Markets will remain shut on Friday on account of Christmas.
Global markets
Investors cheered news that Britain and the European Union were on the cusp of striking a narrow trade deal on Thursday that would help them avoid a turbulent economic rupture on New Year’s Day.
MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.45 per cent, Australian stocks ended 0.33 per cent higher, while Tokyo shares rose 0.45 per cent.
Chinese stocks, however, fell 0.28 per cent dragged by Alibaba Group Holding Ltd whose shares slumped 8.13 per cent, their biggest daily drop in six weeks, after China's market regulator said it will investigate the tech giant for suspected monopolistic behaviour.
In Europe, FTSE 100 rose 0.07 per cent while the more domestically-focused British mid-cap FTSE 250 index hit its highest levels since February, and UK small caps a record high. The STOXX 50 added 0.17 per cent while Germany's DAX gained 1.26 per cent.
(With inputs from Reuters)
CATCH ALL THE LIVE UPDATES

Load More