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Sensex Ends 347 Points Higher As Markets Soar To Record Closing Highs

HDFC, HUL and ICICI Bank were the biggest contributors to the gain in Sensex.
HDFC, HUL and ICICI Bank were the biggest contributors to the gain in Sensex.

Domestic share markets soared to record highs on Monday with gains across consumer goods, pharmaceutical and select financial stocks. The S&P BSE Sensex index jumped 379.37 points or 0.84 per cent to touch 45,458.92 during the session and the broader NSE Nifty 50 benchmark soared to as high as 13,366.65, adding 108.1 points or 0.82 per cent from its previous close — both all-time highs. Analysts say optimism on recovery from the coronavirus pandemic-caused slowdown boosted investors' sentiment.  

The Sensex ended 347.42 points or 0.77 per cent higher at 45,426.97 and the Nifty settled at 13,355.75, up 97.20 points or 0.73 per cent from its previous close. Both indices also registered record closing highs, with the Nifty rising for a fifth straight session.

UPL, Adani Ports, Hindustan Unilever, Bharti Airtel and ONGC — ending between 3.06 per cent and 4.56 per cent higher — were the top gainers in the Nifty basket of 50 shares. 

On the other hand, SBI Life, Nestle, Kotak Mahindra Bank, JSW Steel and Tata Steel — down 1.16-1.51 per cent each — were the worst hit among 19 laggards in the index.

HDFC, Hindustan Unilever, ICICI Bank and ITC were the biggest contributors to the gain in Sensex.

Serum Institute, the world's largest producer of vaccines by volume and India's main hope for large-scale supplies, said it had made the first formal application for emergency use approval for AstraZeneca COVID-19 vaccine.

Daily coronavirus cases in the world's second most populous country have stayed below 50,000 for a month, despite a busy festival season.

ONGC shares ended 2.34 per cent higher after the company said on Friday its overseas arm had made a "significant strike of oil" in its block in Colombia. 

HDFC Bank closed 0.94 per cent lower, after credit ratings agency Moody's said the lender's multiple digital outages, which prompted the Reserve Bank of India on Thursday to curb its digital and credit card operations, were credit negative.