5 Reasons Why Sensex Zoomed 689 Points Today

Indian share markets hit a fresh record high today, boosted by auto and IT stocks, as focus shifted to third-quarter earnings with IT major Tata Consultancy Services (TCS) reporting its results later in the day.

Earnings optimism and positive global cues fueled a broad-based rally in the markets with benchmark indices settling 1.5% higher.

At the closing bell, the BSE Sensex stood higher by 689 points (up 1.4%).

The NSE Nifty closed higher by 210 points (up 1.5%).

Maruti Suzuki and Tech Mahindra were among the top gainers today.

The SGX Nifty was trading at 14,371, up by 180 points, at the time of writing.

The BSE Mid Cap index ended up by 1%, and the BSE Small Cap index ended up by 0.7%.

On the sectoral front, gains were largely seen in the IT sector, the auto sector, and the health care sector.

Asian stock markets ended higher today. As of the most recent closing prices, the Hang Seng ended up by 1.2% and the Shanghai Composite ended down 0.2%. The Nikkei zoomed 2.4%.

US stock futures are trading marginally higher today indicating a positive opening for Wall Street indices. Nasdaq Futures are trading up by 37 points (up 0.3%), while Dow Futures are trading up by 52 points (up 0.2%).

The rupee is trading at 73.26 against the US$.

Gold prices for the latest contract on MCX are trading down by 1.5% at Rs 50,157 per 10 grams.

Meanwhile, silver prices are trading down by 2.4% at Rs 68,280 per kg.

Here are Top 5 Factors Why Indian Share Markets Rallied Today

Firm Global Cues: Asian share markets ended near record-high levels which influenced the sentiment back home. Japan's Nikkei hit a three-decade peak as investors looked beyond rising coronavirus cases and political unrest in the United States to focus on hopes for an economic recovery later in the year.

European stocks also rose, with Germany's DAX hitting a record high on the back of better-than-expected economic data and encouraging earnings updates from chipmakers.

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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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