Udayavni Special

Sensex rises over 250 points to record peak in early trade; Nifty above 13,550

PTI, Dec 14, 2020, 10:40 AM IST

Equity benchmark Sensex jumped over 250 points in early trade on Monday tracking gains in index majors ICICI Bank, HDFC and L&T amid persistent foreign fund inflows and a largely positive trend in global markets.

After touching its record intra-day high of 46,373.34 in the opening session, the 30-share BSE index was trading 235.41 points or 0.51 per cent higher at 46,334.42.

Similarly, the broader NSE Nifty rose 69.70 points or 0.52 per cent to 13,583.55. It hit a high of 13,588.40 in early trade.

ONGC was the top gainer in the Sensex pack, rallying around 3 per cent, followed by Tata Steel, L&T, Sun Pharma, M&M, ICICI Bank and NTPC.

On the other hand, Tech Mahindra, HDFC Bank and Reliance Industries were among the laggards.

In the previous session, Sensex ended 139.13 points or 0.30 per cent higher at 46,099.01, while Nifty rose 35.55 points or 0.26 per cent to 13,513.85.

Foreign portfolio investors (FPIs) were net buyers in the capital market as they purchased shares worth Rs 4,195.43 crore on a net basis on Friday, according to provisional exchange data.

Domestic equities look to be good at the moment. Positive data flows along with persistent FPI flows have been quite supportive for the markets, said Binod Modi Head-Strategy at Reliance Securities.

“Further, better than expected IIP data for October 2020 along with a sharp jump in electricity suggests that industrial activities are back on the growth track, which bodes well for equities,” he added.

On the global front, US equities ended lower last week as concerns over slow progress on fiscal stimulus despite favourable developments on the vaccination process weighed on investors’ sentiments.

“This week is likely to be quite crucial for US equities as Fed policy meeting outcomes along with the stance of Congress about fiscal stimulus are likely to determine the Santa rally for the markets. Additionally, clarity over Brexit is expected to emerge by weekend also,” he noted.

Elsewhere in Asia, bourses in Shanghai, Seoul and Tokyo were trading on a positive note in mid-session deals, while Hong Kong was in the red.

Meanwhile, the global oil benchmark Brent crude futures were trading 0.52 per cent higher at USD 50.23 per barrel.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Bhawna Kanth, first woman fighter pilot to participate in Republic day parade

Health condition of Sasikala is stable, says her nephew

New president brings a slightly new look to Oval Office

Farmers’ tractor rally on R-Day: Meeting underway between Delhi Police, farmer unions

Illegal construction: HC rejects Sood’s plea against BMC notice

Sandalwood drugs case: Supreme Court grants bail to Ragini Dwivedi

3 BJP activists arrested for raising ”goli maro…” slogan in Bengal

Related Articles More

Sensex jumps over 300 pts to breach 50,000-mark for 1st time; Nifty tops 14,700

Reliance-Future deal gets SEBI nod, BSE ‘no-adverse-observation’ status

Trade unions ask govt to put on hold implementation of 4 labour codes

Cairn says engaged with Indian govt on adherence to arbitration award

Auto dealers’ body urges FM to introduce vehicle depreciation benefits for individuals in Budget


Vijay Prakash | Self Charging Electric Bike Made by Autorickshaw driver

Service on Wheels: Government services at one’s doorstep

Homemade Toy Electric Car using Waste Materials

Ullal: Condom found in donation box

Karunakar Kotegar | How to teach forgiveness | Udayavani

Latest Additions

Renault India extends sales and service network, adds 120 facilities in 2020

Pay salaries to staffers under quarantine: Karnataka govt to employers

HC rejects Sonu Sood’s plea against BMC notice over alleged illegal construction

Bhawna Kanth, first woman fighter pilot to participate in Republic day parade

Turn back time? Study hints at way to halt decline as we age

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.