You are here: Home » Markets » News

Indices end at record closing; Sensex up 394 pts at 49,792, Nifty at 14,645

Sectorally, all except Nifty FMCG index ended the day in the green on the NSE with the FMCG index closing down 0.16 per cent

Topics
MARKET WRAP | Indigo Paints | Markets

SI Reporter  | New Delhi 

EVENT HIGHLIGHTS

Representative image
Representative image
LIVE updates: An upbeat mood in the global markets, ahead of the swearing-in of Joe Biden as the 46th President of the United States, catapulted benchmark indices to fresh record highs on Wednesday. That apart, expectations of hefty US spending after US Treasury Secretary nominee Janet Yellen urged lawmakers to "act big" to save the economy further bolstered sentiment. Domestically, gains in heavyweights like Reliance Industries, HDFC, Infosys, TCS, and ICICI Bank, too, provided the necessary support.

In the intra-day session, the S&P hit a new peak of 49,874, surging over 450 points. The index eventually settled at 49,792 levels, up 394 points or 0.8 per cent. Tech Mahindra, Maruti Suzuki, Asian Paints, Reliance Industries, Infosys, and M&M gained between 2 per cent and 3 per cent, and ended as the top performing stocks on the 30-share index. On the downside, NTPC, PowerGrid, HDFC Bank, ITC, and Nestle settled as top laggards, down up to 1 per cent.

It's counterpart, Nifty50, surpassed the 14,650-mark and hit a fresh record high of 14,665. The index ended with gains of 123.5 points, or 0.85 per cent, at 14,645. 

Sectorally, all except the Nifty FMCG index ended the day in the green on the with the FMCG index closing down 0.16 per cent. On the upside, Nifty IT, Auto, and PSU Bank indices closed with gains of over 2 per cent each.

Among individual counters, Tata Consultancy Services and Tata Elxsi – hit their respective new highs on the today, whereas Wipro, Mindtree, Mphasis and Coforge surged up to 5 per cent. READ MORE

In the auto index, Tata Motors and tyre stocks were the top gainers on the index. Among the OEMs, Tata Motors hit yet another 28-month high of Rs 278 on the NSE, while Ceat, JK Tyre, MRF, and Apollo Tyres advanced in the range of 4 per cent to 15 per cent. READ MORE

In the broader market, the S&P MidCap index settled 1 per cent higher, while the S&P SmallCap index gained 0.58 per cent.

Global cues

European rebounded, with the Euro STOXX 600 climbing 0.4%. Indexes in Frankfurt and Paris were both up a similar amount, though London shares were flat.

The buoyant mood mirrored that in Asia, where MSCI’s Asia-Pacific index outside Japan rose 0.8% to its highest ever. Hong Kong’s Hang Seng gained 1% to near its 2019 peak. Australian shares hit a record high.

(With inputs from Reuters)

CATCH ALL THE LIVE UPDATES

Auto Refresh