Sensex, Nifty Hit Record Highs Led By Gains In IT Shares

Nine of 11 sector gauges compiled by the National Stock Exchange ended higher led by the Nifty Metal index's over 5 per cent gain.

Sensex, Nifty Hit Record Highs Led By Gains In IT Shares

The S&P BSE Sensex rallied for ninth session in a row and NSE Nifty 50 indexes closed above 14,100 for the first time led by gains in information technology, metal, auto and pharms shares. Investor sentiment was upbeat after the government gave emergency use approvals to two coronavirus vaccines over the weekend. Government on Sunday approved for emergency use two coronavirus vaccines - one developed by AstraZeneca and Oxford University and the other by local company Bharat Biotech. The Sensex rose as much as 351 points to an all-time high of 48,220.47 and Nifty 50 index touched record high of 14,147.95.

The Sensex ended 308 points higher at record closing high of 48,176.80 and Nifty 50 index climbed 114 points to settle at an all-time high of 14,132.90.

Nine of 11 sector gauges compiled by the National Stock Exchange ended higher led by the Nifty Metal index's over 5 per cent gain. Information technology, auto, pharma, PSU banking and FMCG shares also witnessed buying interest.

On the other hand, Nifty Bank and Nifty Private Bank indexes ended lower.

Mid- and small-cap shares also witnessed buying interest as the Nifty Midcap 100 and Nifty Smallcap 100 indexes rose over 1 per cent each.

Tata Steel was top Nifty gainer, the stock rose 8 per cent to close at Rs 696.90. Hindalco, Eicher Motors, ONGC, Tata Consultancy Services, Bharat Petroleum, JSW Steel, GAIL India, Grasim Industries, HCL Technologies and HDFC Life also rose between 2.6-7 per cent.

On the flipside, Hero MotoCorp, Kotak Mahindra Bank, Bajaj Finance, Adani Ports, Asian Paints, Titan, Power Grid and Nestle India were among the notable losers.

The overall market breadth was extremely positive as 2,095 shares closed higher while 996 ended lower on the BSE.