Sensex Ends 178 Points Higher; Telecom And Power Stocks Witness Buying

Indian share markets witnessed buying interest throughout the day today and ended on a positive note.

Benchmark indices edged higher as positive developments in a coronavirus vaccine trial improved global risk sentiment.

Global stock markets were upbeat after a Covid-19 vaccine from Pfizer and Germany's BioNTech was found to be well tolerated in early-stage human trials.

Sentiment also got a boost after US non-farm payrolls released overnight beat expectations, raising optimism of a V shape recovery. This came as an addition to the recent PMI data from China which was also ahead of expectations and rather encouraging.

At the closing bell, the BSE Sensex stood higher by 178 points (up 0.5%). The NSE Nifty closed higher by 56 points (up 0.5%).

The SGX Nifty was trading at 10,560, up by 21 points, at the time of writing.

The BSE Mid Cap index ended the day up by 0.6%, while the BSE Small Cap index ended up by 0.5%.

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

Metal stocks, on the other hand, witnessed selling pressure.

Asian stock markets ended on a positive note today. As of the most recent closing prices, the Hang Seng ended up by 1% and the Shanghai Composite stood higher by 2%. The Nikkei ended up by 0.7%.

In the US, Wall Street closed higher, and the Nasdaq reached an all-time closing high on Thursday buoyed by a record surge in payrolls, which provided assurance that the US economic recovery was well under way.

European stocks fluctuated alongside US futures, with global equities poised to cap their best week in a month on improving economic data and government support.

The rupee is trading at 74.66 against the US$.

Gold prices are trading down by 0.3% at Rs 48,020 per 10 grams.

Speaking of the current stock market scenario, the last few months have witnessed the kind of shifts that most investors would recall as once in a lifetime.

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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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