Sensex, Nifty End At Record High; Tata Steel & Hindalco Surge Over 7%

Indian share markets scaled fresh peaks today as investor sentiment was upbeat after the country gave emergency use approvals to two coronavirus vaccines over the weekend.

The government gave emergency use approvals to two coronavirus vaccines, produced by AstraZeneca and Bharat Biotech.

Apart from the above, positive GST data collections, improving manufacturing PMI and impressive auto sales in December led to a growth of optimism among investors.

At the closing bell, the BSE Sensex stood higher by 308 points (up 0.6%). The Sensex rose above the 48,000 marks for the first time today.

Meanwhile, the NSE Nifty closed higher by 114 points (up 0.8%). The Nifty also ended above the 14,100-mark for the first time, at 14,133 levels.

ONGC and TCS were among the top gainers today.

The SGX Nifty was trading at 14,180, up by 134 points, at the time of writing.

Both, the BSE Mid Cap index and the BSE Small Cap index ended up by 1.4%.

Midcap stocks were in focus today with the BSE Midcap index hitting a record high on the back of a strong rally in metals, financials, and public sector undertaking (PSU) stocks.

Barring banking stocks, all sectoral indices ended in the green. Gains were largely seen in the metal sector, auto sector, and IT sector.

IT stocks witnessed buying interest today with the Nifty IT index hitting a fresh record high, as the sector kick starts its October-December quarter (Q3FY21) earnings from the current week.

TCS 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.

Asian share markets ended higher today. As of the most recent closing prices, the Hang Seng ended up by 0.94% and the Shanghai Composite stood higher by 0.86%. The Nikkei ended down by 0.7%.

US stock futures are trading higher today indicating a positive opening for Wall Street indices. Nasdaq Futures are trading up by 68 points (up 0.5%), while Dow Futures are trading up by 168 points (up 0.6%).

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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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