Markets opened in green on Monday.(Reuters File Photo)
Markets opened in green on Monday.(Reuters File Photo)

Sensex rallies over 350 points to hit record high in early trade; Nifty tops 12,700

Initial trade set up in India continues to look good with major Asian markets are now trading in the green, said Arjun Yash Mahajan Head Institutional Business at Reliance Securities.
By Press Trust of India | Posted by Kanishka Sarkar | Mumbai
UPDATED ON NOV 11, 2020 10:21 AM IST

Equity benchmark Sensex rallied over 350 points to hit its record intra-day level on Wednesday, tracking largely positive cues from global markets and strong foreign fund inflow.

After touching its lifetime peak of 43,675.59 in the opening session, the 30-share BSE index was trading 353.60 points or 0.82 per cent higher at 43,631.25.

Similarly, the broader NSE Nifty too touched a fresh high of 12,752.90. Later, it was trading with 108.95 points or 0.86 per cent gain at 12,740.05.

M&M was the top gainer, surging around 4 per cent, followed by Bajaj Finance, Kotak Bank, SBI, ONGC, L&T, Tata Steel, Bajaj Finserv and Maruti.

On the other hand, IndusInd Bank, HUL, PowerGrid, Titan and Nestle India were in the red.

In the previous session, Sensex soared 680.22 points or 1.60 per cent to close above the 43,000-mark for the first time at 43,277.65. The Nifty too ended at its all-time high of 12,631.10, up 170.05 points or 1.36 per cent.

Foreign institutional investors remained net buyers in the capital market as they purchased shares worth Rs 5,627.32 crore on Tuesday, according to provisional exchange data.

Initial trade set up in India continues to look good with major Asian markets are now trading in the green, said Arjun Yash Mahajan Head Institutional Business at Reliance Securities.

“Additionally, NDA’s win in Bihar assembly election and better Q2 earnings bode well for domestic equities,” he said, adding that market valuations at these levels seem to be quite stretched and any sort of negative development may result in sharp reversal.

US equities ended mixed as emerging concerns about the overbought situation in the market after it witnessed a sharp rally in November so far, continued rise in new COVID-19 cases and doubt over the smooth transition to a new government weighed on investors’ sentiment, he noted.

Elsewhere in Asia, bourses in Shanghai, Seoul and Tokyo were trading up to 1.78 per cent higher in mid-session deals driven by hopes that a COVID-19 vaccine will help the global economy return to normal. Hong Kong market was, however, trading in the red.

Meanwhile, international oil benchmark Brent crude was trading 1.10 per cent higher at USD 44.09 per barrel.

SHARE THIS ARTICLE ON
Topics
app
Close
FILE PHOTO: The Apple Inc logo is seen hanging at the entrance to the Apple store on 5th Avenue in Manhattan, New York, U.S., October 16, 2019. REUTERS/Mike Segar/File Photo(REUTERS)
FILE PHOTO: The Apple Inc logo is seen hanging at the entrance to the Apple store on 5th Avenue in Manhattan, New York, U.S., October 16, 2019. REUTERS/Mike Segar/File Photo(REUTERS)

Apple faces Italian suit over iPhones that wear out too quickly

Bloomberg
PUBLISHED ON JAN 25, 2021 04:40 PM IST
The lawsuit mirrors US cases over claims that the company misled consumers about iPhone battery power and software updates that slowed the performance of the devices.
Close
A customer hands Indian currency notes to an attendant at a fuel station in Mumbai, India.(Reuters)
A customer hands Indian currency notes to an attendant at a fuel station in Mumbai, India.(Reuters)

Rupee rises for 5th straight session, settles 3 paise higher at 72.94

PTI
PUBLISHED ON JAN 25, 2021 04:08 PM IST
Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, advanced 0.10 per cent to 90.32.
Close
Finance Minister Nirmala Sitharaman will unveil the Budget 2021-22 on February 1.(PTI)
Finance Minister Nirmala Sitharaman will unveil the Budget 2021-22 on February 1.(PTI)

Government may tweak customs duties on host of goods in Budget 2021

PTI, New Delhi
PUBLISHED ON JAN 25, 2021 03:58 PM IST
Sources said that while import duties could be tweaked on over 20 products, the customs duties could be removed on select raw materials.
Close
Sensex settled the session at 48,347, down 531 points(PTI)
Sensex settled the session at 48,347, down 531 points(PTI)

Sensex tanks over 500 points, Nifty ends below 14,250

PTI, Mumbai
UPDATED ON JAN 25, 2021 03:54 PM IST
Sensex tanks over 500 points, Nifty ends below 14,250
Close
The Centre had set up a special borrowing window in October 2020 to meet the estimated shortfall of <span class='webrupee'>₹</span>1.10 lakh crore in revenue arising on account of the implementation of the GST.(PTI)
The Centre had set up a special borrowing window in October 2020 to meet the estimated shortfall of 1.10 lakh crore in revenue arising on account of the implementation of the GST.(PTI)

FinMin releases weekly installment of 6,000 cr to meet GST shortfall

PTI, New Delhi
PUBLISHED ON JAN 25, 2021 03:06 PM IST
Till now, 70 per cent of the total estimated GST compensation shortfall has been released to the states and union territories (UTs) with legislative assembly.
Close
The least registration in the ESI scheme for both men and women in the formal sector came in the month of April 2020.(Representational photo)
The least registration in the ESI scheme for both men and women in the formal sector came in the month of April 2020.(Representational photo)

NSO releases employment outlook report

By hindustantimes.com | Written by Deepali Sharma, Hindustan Times, New Delhi
PUBLISHED ON JAN 25, 2021 02:54 PM IST
In all the three schemes, the number of new registrations increased after June 2020.
Close
Gold is considered a hedge against inflation, likely from widespread stimulus. (HT Photo) (Representative Image)
Gold is considered a hedge against inflation, likely from widespread stimulus. (HT Photo) (Representative Image)

Gold eases on doubts over US stimulus passage

Reuters
PUBLISHED ON JAN 25, 2021 02:50 PM IST
Spot gold fell 0.1% to $1,850.91 per ounce by 0822 GMT, having dropped 0.9% in the previous session. US gold futures fell 0.2% to $1,851.80.
Close
A government agricultural officer collects urine samples from pigs arriving at a slaughterhouse in Wuyi county, Zhejiang province, China.(REUTERS)
A government agricultural officer collects urine samples from pigs arriving at a slaughterhouse in Wuyi county, Zhejiang province, China.(REUTERS)

China's pigs become unexpected threat to palm oil's rally

Bloomberg
PUBLISHED ON JAN 25, 2021 02:16 PM IST
The world’s biggest pork producer and consumer is scooping up unprecedented quantities of soybeans and corn on world markets to feed domestic hog herds.
Close
Reliance shares gained about 5.8% last week in the run-up to the results but were flat for this year after a more than 32% gain last year.(Reuters)
Reliance shares gained about 5.8% last week in the run-up to the results but were flat for this year after a more than 32% gain last year.(Reuters)

Reliance Industries shares fall nearly 5% as Covid-19 hits oil business

Reuters, Bengaluru
PUBLISHED ON JAN 25, 2021 11:53 AM IST
Reliance's revenue from its oil-to-chemicals division fell nearly 30% in the three months ended Dec 31.
Close
FILE PHOTO: Representations of virtual currency bitcoin are seen in this picture illustration taken taken March 13, 2020. REUTERS/Dado Ruvic/Illustration/File Photo(REUTERS)
FILE PHOTO: Representations of virtual currency bitcoin are seen in this picture illustration taken taken March 13, 2020. REUTERS/Dado Ruvic/Illustration/File Photo(REUTERS)

Bitcoin return to $40,000 in doubt as Grayscale fund flows slow

Bloomberg
PUBLISHED ON JAN 25, 2021 11:10 AM IST
The pace of flows into the $20 billion Grayscale Bitcoin Trust “appears to have peaked” based on four-week rolling averages.
Close
On Friday, the rupee had settled at 72.97 against the American currency.(Getty Images/iStockphoto)
On Friday, the rupee had settled at 72.97 against the American currency.(Getty Images/iStockphoto)

Rupee rises 4 paise to 72.93 against US dollar in early trade

PTI
PUBLISHED ON JAN 25, 2021 10:35 AM IST
Traders said the local unit is trading in a narrow range against the US dollar ahead of the US Federal Reserve meeting this week.
Close
The benchmark S&amp;P BSE Sensex gained 0.6% to 49,177.99 by 0353 GMT.(Mint file photo)
The benchmark S&P BSE Sensex gained 0.6% to 49,177.99 by 0353 GMT.(Mint file photo)

Indian shares rise as banking stocks shine

Reuters, Bengaluru
PUBLISHED ON JAN 25, 2021 10:23 AM IST
Tata Motors Ltd climbed 1.6%, after the automaker hiked prices of its passenger vehicles on Friday.
Close
A man wearing a protective mask, amid the coronavirus disease (COVID-19) outbreak, stands in front of an electric board showing Nikkei index outside a brokerage in Tokyo, Japan January 21, 2021. REUTERS/Kim Kyung-Hoon(REUTERS)
A man wearing a protective mask, amid the coronavirus disease (COVID-19) outbreak, stands in front of an electric board showing Nikkei index outside a brokerage in Tokyo, Japan January 21, 2021. REUTERS/Kim Kyung-Hoon(REUTERS)

Asian shares rise on recovery hopes, markets eye earnings

AP
PUBLISHED ON JAN 25, 2021 10:10 AM IST
Japan's benchmark Nikkei 225 gained nearly 0.5 per cent in morning trading to 28,767.43. Australia's S&P/ASX200 added 0.4 per cent to 6,829.60.
Close
Sensex opened in green on Monday. (PTI File Photo )
Sensex opened in green on Monday. (PTI File Photo )

Sensex advances 300 points to 49,184 in opening session; Nifty above 14,400

PTI
UPDATED ON JAN 25, 2021 09:59 AM IST
On the Sensex chart, UltraTech Cement, Bajaj Finance, HDFC, Axis Bank, Bajaj FinServ, HDFC Bank and Mahindra and Mahindra were the prominent gainers.
Close
Corporate bond issuance in India has fallen 11% from the year-earlier period so far in 2021.(Reuters File Photo)
Corporate bond issuance in India has fallen 11% from the year-earlier period so far in 2021.(Reuters File Photo)

Corporate bond sales in India set to slow after a record year: Survey

Bloomberg
PUBLISHED ON JAN 25, 2021 06:48 AM IST
Economists expect India’s economy to rebound strongly from what is forecast to be the worst contraction since 1952 in the year ending March.
Close
SHARE
Story Saved
OPEN APP