Updated: February 8, 2021 4:51:37 pm
The frontline indices on the BSE and National Stock Exchange (NSE) continued their bull run for the sixth consecutive session and settled at fresh all-time highs led by gains in auto, metal and information technology (IT) stocks and on positive cues in global market.
During the day, the S&P BSE Sensex hit a record high of 51,523.38 in the intraday trade, while the Nifty 50 touched 15,159.90 for the first time ever. eventually, the BSE benchmark settled at a record closing high of 51,348.77, up 617.14 points (1.22 per cent), while the broader NSE barometer rose 191.55 points (1.28 per cent) to end at a fresh closing high of 15,115.80.
Mahindra & Mahindra (M&M) was the top gainer of the day, followed by Bajaj Finserv, Bharti Airtel, Power Grid Corporation of India, Infosys and ICICI Bank. See heatmap below
Among the sectoral indices on NSE, the Nifty Metal index was the best performer of the day gaining 3.17 per cent led by Hindustan Copper and Hindalco Industries. It was closely followed by the Nifty Auto index which rose 3.14 per cent driven by M&M, Tata Motors and Exide Industries. Apart from these, the Nifty IT too rose 2.31 per cent aided by Info Edge (India) and Coforge.
Here’s how the sectoral indices performed:
In the broader market, the S&P BSE MidCap index ended at 19,705.30, up 292.13 points (1.50 per cent), while the S&P BSE SmallCap settled at 19,388.71, up 292.65 points (1.53 per cent).
“Strong global cues supported the domestic rally. PSU Banks, which was on a bull run paused today with some correction noticeable in FMCGs. The overall market is maintaining its buoyancy with rally in all sectors especially auto, IT and metals. Improved domestic outlook is encouraging sustained FPI inflows,” said Vinod Nair, Head of Research at Geojit Financial Services.
World shares hit a record high on Monday and oil surpassed $60 a barrel for the first time in a year, on hopes that a $1.9 trillion COVID-19 aid package will be passed by US lawmakers as soon as this month.
Even news that South Africa had halted the rollout of AstraZeneca’s vaccine after a study showed it gave only limited protection against the country’s more contagious variant of the virus wasn’t going to put equity markets off.
MSCI’s 50-country index of world stocks hit its ninth record high of 2021 overnight as Tokyo’s Nikkei jumped on talk of Japan relaxing emergency restrictions and as China’s markets got busy before the start of the lunar new year.
Europe then made a strong start as higher oil prices and inflation expectations lifted basic resource and banking shares, and France’s Veolia launched a hostile 11.3 billion-euro takeover bid for waste and water rival Suez.
— global market inputs from Reuters
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