Business

Sensex, Nifty extend record-breaking rally to 3rd straight session

NEW DELHI, DEC 7 (AGENCIES) | Publish Date: 12/7/2020 12:35:31 PM IST

Benchmark equity indices S&P BSE Sensex and NSE Nifty 50 extended their record-breaking streak to a third straight day on Monday, with investors’ sentiment boosted by news of progress in coronavirus vaccines amid continuous buying of Indian shares by foreign institutional investors. The Sensex rose as much as 379 points to hit an all-time high of 45,458.92 and Nifty 50 index surged as much as 108 points to hit new record high of 13,366.65. HDFC, Hindustan Unilever, ICICI Bank, ITC, Bharti Airtel and Infosys were among the top movers in today’s session.

The Sensex ended 347 points or 0.77 per cent higher to close at an all-time high 45,427 and Nifty 50 index climbed 97 points to settle at record high of 13,356.

Foreign institutional investors on Friday bought shares worth Rs. 2,970 crore after they purchased shares worth Rs. 60,357.67 crore in November. FIIs have so far this year invested Rs. 1,08,244.71 crore in Indian equities, data from NSDL showed. Buying was visible across the board as all the 11 sector gauges, barring the index of realty stocks, ended higher led by Nifty Media index’s nearly 3 per cent gain. The PSU Bank, FMCG, Pharma and IT indexes also rose 0.65-1.7 per cent each.

Mid- and small-cap shares outperformed their larger peers after the National Stock Exchange revised circuit breakers. Nifty Midcap 100 and Nifty Smallcap 100 indexes rose over a per cent each. UPL was top Nifty gainer; the stock rose 4.56 per cent to close at Rs. 476. Adani Ports, Hindustan Unilever, Bharti Airtel, ITC, GAIL India, Coal India, HDFC, Dr Reddy’s Labs, State Bank of India and IndusInd Bank also rose 2-3.6 per cent each.

On the flip side, SBI Life, Nestle India, Kotak Mahindra Bank, JSW Steel, Tata Steel, Bajaj Finance, Maruti Suzuki, HDFC Bank, UltraTech Cement, Titan and Hindalco were among the losers.

Among individual shares, ONGC rose 3 per cent to close at Rs. 92.60 after the company on Friday informed stock exchanges that its overseas arm ONGC Videsh Limited (OVL) struck oil at its onshore block in Colombia. 

“The National Oil Company of India has made a significant strike of oil in its onshore block CPO-5, Colombia, in Llanos Basin. OVL is operator in the block with 70 per cent stake along with its partner Geopark (30 per cent stake) an independent oil and gas company focused in Latin America,” ONGC said in a press release.

The overall market breadth was extremely positive as 2,037 shares ended higher, while 935 closed lower on the BSE.

 

-Tags:#Sensex

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