5 Reasons Why Indian Share Markets Closed At Record High Today

Indian share markets extended gains as the session progressed and ended on a strong note.

The Sensex crossed 45,000-mark for the first time, as the RBI upgraded its GDP target for the current fiscal year and kept interest rates steady in the face of stubbornly high inflation.

At the closing bell, the BSE Sensex stood higher by 447 points (up 1%).

The NSE Nifty closed higher by 125 points (up 1%).

ICICI Bank and UltraTech Cement were among the top gainers today.

The SGX Nifty was trading at 13,329, up by 138 points, at the time of writing.

Both, the BSE Mid Cap index and the BSE Small Cap index ended up by 0.4%.

On the sectoral front, gains were largely seen in the banking sector, FMCG sector, and telecom sector.

Market participants were tracking travel-related stocks today. IRCTC share price zoomed 15% as covid vaccine-related optimism continued to boost travel-related stocks. Meanwhile, InterGlobe Aviation and SpiceJet also surged in the range of 5-10%.

Asian stock markets ended higher today. As of the most recent closing prices, the Hang Seng ended up by 0.4% and the Shanghai Composite ended up 0.1%. The Nikkei ended down by 0.2%.

US stock futures are trading higher today indicating a positive opening for Wall Street indices. Nasdaq Futures are trading up by 48 points (up 0.4%), while Dow Futures are trading up by 157 points (up 0.5%).

The rupee is trading at 73.79 against the US$.

Gold prices for the latest contract on MCX are trading up by 0.1% at Rs 49,344 per 10 grams.

Here are Top 5 Factors Why Indian Stock Markets Rallied Today

Firm Global Cues: Global stock markets were buoyed today amid positive macroeconomic data flow from China, US stimulus negotiations, and developments on the Covid-19 vaccine front.

Vaccine News: Prime Minister Narendra Modi today said India's vaccination program against Covid-19 would begin as soon as a go-ahead from scientists is given, and asserted that healthcare workers involved in treating coronavirus patients, frontline workers and old people suffering from serious conditions would be inoculated on priority.

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Disclosure: Equitymaster Agora Research Private Limited (Research Analyst) bearing Registration No. INH000000537 (hereinafter referred as 'Equitymaster') is an independent equity research ...

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