This Article is From Dec 11, 2020

Sensex, Nifty Resume Up Move After A Day's Pause Led By ITC, ICICI Bank

Eight of 11 sector gauges compiled by the National Stock Exchange ended higher led by the Nifty Metal and PSU Bank indexes over 1 per cent gain.

Sensex, Nifty Resume Up Move After A Day's Pause Led By ITC, ICICI Bank

ONGC was top Nifty gainer the stock closed 5.5 per cent higher at Rs 97

The S&P BSE Sensex and NSE Nifty 50 indexes resumed their up move after a day's pause in the previous session on Friday led by gains in ITC, ICICI Bank, NTPC, Kotak Mahindra Bank and Hindustan Unilever. The benchmarks staged a gap up opening wherein the Sensex rose as much as 350 points to hit an all-time high of 46,309.63 and Nifty 50 index touched record high of 13,579.35. However, minor profit booking in noon deals wiped out intraday gains but indexes managed to close higher on the back of buying in FMCG, metal and state-run banking shares.

The Sensex ended 139 points or 0.3 per cent higher at 46,099 and Nifty 50 index advanced 36 points to settle at 13,514.

Eight of 11 sector gauges compiled by the National Stock Exchange ended higher led by the Nifty Metal and PSU Bank indexes over 1 per cent gain. FMCG, Media, Realty, and Financial Services indexes also rose between 0.3-0.9 per cent.

On the other hand, IT, pharma and auto shares faced selling pressure.

Mid- and small-cap shares also witnessed buying interest as Nifty Midcap 100 index rose 0.22 per cent and Nifty Smallcap 100 index advanced 0.6 per cent.

ONGC was top Nifty gainer the stock closed 5.5 per cent higher at Rs 97 on the back of sharp rally in crude oil prices. Oil rose on Friday, extending a sharp rally overnight that saw Brent rise above $50 for the first time since March, as coronavirus vaccination rollouts kept hopes alive that demand for crude would build up next year.

NTPC, GAIL India, Coal India, Tata Steel, ICICI Bank, Titan, Indian Oil, ITC, State Bank of India, UltraTech Cement, Bajaj Finance and Kotak Mahindra Bank also rose between 1-5 per cent.

On the flipside, Axis Bank, Divi's Labs, Adani Ports, Mahindra & Mahindra, Eicher Motors, JSW Steel, UPL and Cipla were among the losers.

The overall market breadth was positive as 1,750 shares ended higher while 1,220 closed lower on the BSE.