Sensex Ends 261 Points Higher; Axis Bank Rallies 6%

Indian share markets recouped early losses during closing hours and scaled fresh lifetime highs to end today's volatile session higher.

Benchmark indices extended their winning streak to the tenth straight day amid buying seen in index heavyweights HDFC, Axis Bank, TCS, and HDFC Bank.

At the closing bell, the BSE Sensex stood higher by 261 points (up 0.54%).

Meanwhile, the NSE Nifty closed higher by 67 points (up 0.47%).

Axis Bank, HDFC, and TCS were among the top gainers today. Tata Consultancy Services (TCS) share price continued its upward trend, hitting a new high of Rs 3,113.

The company is scheduled to announce its Q3FY21 results on Friday, January 8, 2021. The board will also consider the declaration of a third interim dividend to the equity shareholders.

The SGX Nifty was trading at 14,222, up by 57 points, at the time of writing.

The BSE Mid Cap index ended up by 1.4%. The BSE Small Cap index ended up by 0.7%.

Sectoral indices ended on a mixed note. Gains were largely seen in the banking sector, the IT sector, and finance sector.

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

Asian share markets ended mixed amid continuing worries about surging coronavirus cases.

The Nikkei shed 0.4% as the government was preparing to declare a state of emergency in Tokyo and several surrounding areas. The Shanghai Composite stood higher by 0.7% while the Hang Seng ended up by 0.6%.

European share markets edged higher today, lifted by oil and retail stocks, while investors looked past a new national lockdown in Britain to contain a surge in coronavirus cases.

US stock futures are trading higher today indicating a positive opening for Wall Street indices. Nasdaq Futures are trading up by 28 points (up 0.2%), while Dow Futures are trading up by 80 points (up 0.3%).

The rupee is trading at 73.18 against the US$.

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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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