Sensex, Nifty end at fresh lifetime highs
Equity benchmark Sensex rallied 403 points to end at a fresh record on Tuesday, driven by gains in index majors HDFC Bank, ICICI Bank, and Bajaj Finserv amid a positive trend in global equities. The 30-share index ended 0.73 percent higher at its lifetime peak of 55,958.98. Similarly, the broader NSE Nifty surged 128.15 points or 0.78 percent to its all-time high of 16,624.60.
Bajaj Finserv was the top gainer in the Sensex pack
Bajaj Finserv was the top gainer in the Sensex pack, soaring around eight percent, followed by Tata Steel, Tech Mahindra, Bajaj Finance, HDFC Bank, and SBI. On the other hand, Nestle India, Infosys, HDFC, and HCL Tech were among the laggards.
Strong rebound in broader markets bolstered optimism: Expert
"Strong rebound in broader markets along with favorable global cues bolstered optimism in Dalal Street, led by metal and realty stocks," said Vinod Nair, Head of Research at Geojit Financial Services. Metal stocks led the rally as value-buying was witnessed in the sector after a deep sell-off during the past four trading sessions due to weak iron ore futures across the globe, he noted.
Full approval to Pfizer-BioNTech vaccine boosted hopes of faster inoculations
The USFDA (United States Food and Drug Administration) granted full approval to the COVID-19 vaccine by Pfizer-BioNTech, which boosted hopes of faster inoculations, Nair added. Meanwhile, experts said market sentiment was also bolstered after Finance Minister Nirmala Sitharaman unveiled an ambitious Rs. 6 lakh crore National Monetisation Pipeline on Monday that included unlocking value by involving private companies across several infrastructure sectors.
Meanwhile, Brent crude trading at $69.15 per barrel
Elsewhere in Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul ended with strong gains. Equities in Europe were trading on a mixed note in mid-session deals. Meanwhile, international oil benchmark Brent crude rose 1.14 percent to $69.15 per barrel.
