Indian Indices Continue Momentum; Sensex Ends 224 Points Higher

After opening the day on a flat note, Indian share markets extended gains as the session progressed and ended higher, taking the winning streak to the 5th day.

At the closing bell, the BSE Sensex stood higher by 224 points. The NSE Nifty stood higher by 58 points.

The Sensex hit an all-time high of 46,992 and Nifty logged a lifetime high of 13,773 in today's session.

HDFC and Bajaj Finance were among the top gainers today. ONGC, on the other hand, was among the top losers today.

SGX Nifty was trading at 13,750, up by 54 points, at the time of writing.

The BSE Mid Cap index ended down by 0.1%. The BSE Small Cap index ended lower by 0.2%.

Sectoral indices ended on a mixed note with stocks in the capital goods sector and finance sector witnessing buying interest. Metal stocks and oil & gas stocks, on the other hand, witnessed selling pressure.

Sugar stocks were in focus today after the Union Cabinet approved Rs 35-billion sugar export subsidy. The central government on Wednesday approved a subsidy to sugar mills for the export of around six million tonnes (MT) in the ongoing 2020-21 marketing season that started in October.

Shares of Balrampur Chini, Triveni Engineering Industries, Uttam Sugar Mills, Dhampur Sugar Mills, Shree Renuka Sugars, EID Parry (India), and Dwarikesh Sugar Industries gained in the range of 3-5%.

Asian stock markets ended on a positive note as expectations for further US economic stimulus and a pledge of support from the Federal Reserve lifted sentiment.

As of the most recent closing prices, the Shanghai Composite stood higher by 1.1% and the Hang Seng ended up by 0.8%. The Nikkei closed up 0.2%, reversing early losses.

US stock futures are trading higher today, indicating a positive start for Wall Street indices.

Nasdaq Futures are trading up by 66 points (up 0.5%), while Dow Futures are trading up by 137 points (up 0.5%).

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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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