5 Reasons Why Sensex Rallied 495 Points Today

Indian share markets hit a fresh record high today as Covid-19 vaccine approvals boosted investor sentiment.

Gaining over 1% during the day, the Sensex crossed the 46,000-mark, while the Nifty topped the 13,500-level for the first time ever.

At the closing bell, the BSE Sensex stood higher by 495 points (up 1.1%).

The NSE Nifty closed higher by 136 points (up 1%).

Asian Paints and Kotak Mahindra Bank were among the top gainers today.

The SGX Nifty was trading at 13,567, up by 138 points, at the time of writing.

The BSE Mid Cap index ended up by 0.4%, and the BSE Small Cap index ended up by 0.5%.

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

Asian stock markets ended higher today. As of the most recent closing prices, the Hang Seng ended up by 0.8% and the Shanghai Composite ended down 1.1%. The Nikkei ended up by 1.3%.

US stock futures are trading marginally higher today indicating a positive opening for Wall Street indices. Nasdaq Futures are trading up by 11 points (up 0.1%), while Dow Futures are trading up by 87 points (up 0.3%).

The rupee is trading at 73.54 against the US$.

Gold prices for the latest contract on MCX are trading down by 0.8% at Rs 49,731 per 10 grams.

Here are Top 5 Factors Why Sensex and Nifty Hit Fresh Record Highs Today

Vaccine Approvals: India's federal health secretary said on Tuesday the country may approve some coronavirus vaccines over the next few weeks and an estimated 300 million people would be inoculated in the first tranche.

Meanwhile, Pfizer Inc cleared the next hurdle in the race for its Covid-19 vaccine emergency approval in the United States after the drug regulator released documents that raised no new issues about its safety or efficacy.

Stimulus Package: The Trump administration on Tuesday proposed a package worth US$ 916 billion including liability protections and state and local government aids.

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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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