Sensex, Nifty Recover From Day's Low To End Strong; ITC & SBI Rally 6%

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

Benchmark indices extended their winning streak as healthy December quarter results, consistent FII buying, and hopes of status-quo in the Reserve Bank of India's February monetary policy, due on Friday, kept optimism intact.

At the closing bell, the BSE Sensex stood higher by 359 points (up 0.7%).

Meanwhile, the NSE Nifty closed higher by 106 points (up 0.7%).

ITC, SBI, and Bajaj Finance were among the top gainers today.

The SGX Nifty was trading at 14,888, up by 68 points, at the time of writing.

The BSE Mid Cap index ended up by 1.5%. The BSE Small Cap index ended up by 1.2%.

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

Telecom stocks and consumer durable stocks, on the other hand, witnessed selling pressure.

The Nifty Bank index clocked a new closing high of 35,345, up 586 points or 1.7%. The index hit a record high of 35,413 earlier today.

Shares of Bajaj Finance and Shree Cement hit their 52-week highs today.

Asian share markets ended on a negative note today. The Hang Seng shed 0.7% while the Shanghai Composite stood lower by 0.4%. The Nikkei ended down by 1.1%.

US stock futures are trading higher today indicating a positive opening for Wall Street indices. Nasdaq Futures are trading up by 39 points (up 0.2%), while Dow Futures are trading up by 16 points (up 0.1%).

The rupee is trading at 72.95 against the US$.

Gold prices for the latest contract on MCX are trading down by 0.8% at Rs 47,340 per 10 grams.

In news from the IPO space, the initial public offer (IPO) of Brookfield India Real Estate Trust was subscribed 36% so far on the second day of bidding today, driven largely by corporate and individual investors.

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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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