Updated: February 15, 2021 4:20:29 pm
The benchmark equity indices on the BSE and National Stock Exchange (NSE) rose 1 per cent higher to end at their respective record highs on Monday led by a rise in financial stocks amid favourable economic data and a buoyant global market.
During the intraday trade, the S&P BSE Sensex breached the 52,000-mark and rose to an all-time high of 52,235.97 while the Nifty 50 surged above the 15,300-mark for the first time ever and touched a lifetime high of 15,340.15. At the end of trade, the Sensex settled at a record closing high of 52,154.13, registering a rise of 609.83 points (1.18 per cent) while the broader Nifty climbed 151.40 points (1.00 per cent) to end at its record settlement high of 15,314.70.
Axis Bank, ICICI Bank, Bajaj Finance, State Bank of India (SBI), IndusInd Bank and Housing Development Finance Corporation (HDFC) were the biggest gainers on the BSE benchmark. On the other hand, Dr Reddy’s Laboratories, Tata Consultancy Services (TCS), Tech Mahindra, Hindustan Unilever (HUL) and Asian Paints were the top laggards on Monday. See heatmap below
Among the sectoral indices on NSE, the key Nifty Bank index rose 3.32 per cent to end at 37,306.25 led by a rally in the share prices of Axis Bank, RBL Bank, ICICI Bank and SBI. The Nifty Financial Services index climbed 2.87 per cent to settle at 17,504.90 aided by Cholamandalam Investment and Finance Company, Piramal Enterprises and Mahindra & Mahindra Financial Services.
Here’s how the sectoral indices ended:
In the broader market, the S&P BSE MidCap index settled at 20,189.69, up 278.66 points (1.40 per cent). Here, Cholamandalam Finance Apollo Hospitals Enterprise and Adani Transmission were the top gainers of the index. Likewise, the S&P BSE SmallCap ended at 19,693.87, up 71.82 points (0.37 per cent). Mahindra CIE Automotive, Clariant Chemicals (India) and OnMobile Global were the top gainers in the smallcap index on Monday.
On the economic front, according to data released Friday evening, India’s retail inflation stayed within the Reserve Bank of India’s (RBI’s) target range for the second straight month in January 2021. The CPI for January was reported at 4.06 per cent, within the central bank’s upper margin of 6 per cent.
Asian shares started the week off with a rally, as Japan’s Nikkei 225 index briefly topped 30,000 for the first time since August 1990.
As of midday the Nikkei had fallen back below that level but was still up 1.3 per cent, at 29,914.02. Shares also rose in India, South Korea and Australia. Markets in Shanghai and Hong Kong were closed for the Lunar New Year.
The strong buying in Tokyo was driven by news that the Japanese economy grew at a nearly 13 per cent annual pace in the last quarter, and by strong corporate earnings reports. It was the second straight quarter of growth after a downturn drastically worsened by the impact of the pandemic.
–global market input from AP
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