5 Reasons Why Indian Share Markets Closed At Record Highs Today

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

Both the benchmark indices logged their respective fresh lifetime highs in intra-day deals, with the NSE Nifty index hitting 13,000 for the first time ever.

At the closing bell, the BSE Sensex stood higher by 446 points (up 1%).

The NSE Nifty closed higher by 129 points (up 1%).

Axis Bank and HDFC Bank were among the top gainers today.

The SGX Nifty was trading at 13,116, up by 175 points, at the time of writing.

The BSE Mid Cap index ended up by 0.6%. The BSE Small Cap index ended up by 0.9%.

On the sectoral front, gains were largely seen in the banking sector, the automobile sector, and finance sector.

Asian stock markets ended higher today as progress in developing an inexpensive coronavirus vaccine boosted hopes of a swift global economic recovery.

As of the most recent closing prices, the Hang Seng ended up by 0.4% and the Shanghai Composite ended down 0.3%. The Nikkei rose 2.5%.

US stock futures are trading higher today indicating a positive opening for Wall Street indices. Nasdaq Futures are trading up by 43 points (up 0.4%), while Dow Futures are trading up by 273 points (up 0.9%).

The rupee is trading at 73.90 against the US$.

Gold prices for the latest contract on MCX are trading down by 1% at Rs 49,003 per 10 grams.

Domestic gold and silver prices fell sharply today, continuing their weak trend of recent weeks.

In the previous session, gold prices had slumped Rs 750 or 1.5% per 10 gram while silver had tumbled Rs 1,628 or 2.6% per kg.

In global markets, gold rates dropped to the lowest level in four months amid optimism over Covid-19 vaccine developments.

After hitting a record high of Rs 56,200 in August, gold prices have slumped amid vaccine progress and the recent outflow from gold-backed exchange-traded funds.

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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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