The benchmark indices on the BSE and National Stock Exchange (NSE) ended 0.3 per cent higher to settle at fresh closing highs on Monday taking cues from their global peers which rose as investors gauged the chance of added US fiscal and monetary stimulus, while the British pound rose as a last-gasp extension to Brexit talks dodged a difficult divorce.
The S&P BSE Sensex ended at a fresh closing high of 46,253.46, up 154.45 points (0.34 per cent), while the Nifty 50 settled at a record closing high of 13,558.15, up 44.30 points (0.33 per cent). During the day, the Sensex had hit a lifetime high of 46,373.34 while the Nifty touched its record high of 13,597.50.
Oil and Natural Gas Corporation (ONGC) was the top gainer of the day on Sensex, followed by Larsen & Toubro (L&T), NTPC, ICICI Bank, Sun Pharmaceutical Industries and HCL Technologies. On the other hand, Mahindra & Mahindra (M&M), Bajaj Auto, Tech Mahindra, Bajaj Finserv, HDFC Bank and Reliance Industries were the top laggards. (see heatmap below)
Among sectoral indices, the Nifty PSU Bank index rose 1.77 per cent on Monday led by gains in the shares of Indian Bank, Bank of India and Bank of Baroda. Separately, the Nifty Metal index climbed 1.38 per cent aided by Hindustan Copper, NMDC and APL Apollo Tubes. However, the Nifty Auto index fell 1.04 per cent weighed by Eicher Motors, Hero MotoCorp and Bharat Forge.
Here’s how the sectoral indices performed:
In the broader market, the S&P BSE MidCap index closed at 17,658.89, up 137.57 points (0.79 per cent) while the S&P BSE SmallCap settled at 17,683.22, up 130.64 points (0.74 per cent).
Stocks began the week with robust gains as investors gauged the chance of added US fiscal and monetary stimulus, while the British pound rose as a last-gasp extension to Brexit talks dodged a difficult divorce.
Europe opened with stocks up 0.75 per cent and the euro up on the dollar after London and Brussels agreed on Sunday to “go the extra mile” to try to reach a trade agreement.
Progress on coronavirus vaccines also cheered risk sentiment, with the first doses shipping across the United States as part of an effort to inoculate more than 100 million people by the end of March.
“The vaccine has and will likely continue to provide a tailwind to the market that is allowing investors to look beyond record case levels, hospitalisations, and deaths,” analysts at JPMorgan said in a note.
E-Mini futures for the S&P 500 responded by rising 0.5 per cent, while March Treasury bond futures slipped 4 ticks. EUROSTOXX 50 futures added 0.5 per cent and FTSE futures 0.1 per cent.
MSCI’s broadest index of Asia-Pacific shares outside Japan edged up 0.1 per cent, after a string of record highs last week. Japan’s Nikkei rose 0.3 per cent as a survey showed the mood among Japanese businesses had improved in the December quarter.
–global market inputs from Reuters
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