Markets

Sensex closes at all-time high of 40,889

A view of the BSE building in Mumbai. File

A view of the BSE building in Mumbai. File   | Photo Credit: PTI

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Metal, banking and telecom stocks witnessed strong gains; Nifty ends at over 12K

Benchmark Sensex on Monday surged 530 points to hit a fresh closing high of 40,889.23, driven by gains mainly in telecom, metal and auto stocks amid renewed optimism over U.S.-China trade truce.

After touching its record intra-day high of 40,931.71, the 30-share BSE Sensex ended 529.82 points, or 1.31%, higher at 40,889.23.

Similarly, the broader NSE Nifty settled just shy of its life-time closing high, up 159.35 points, or 1.34%, at 12,073.75.

Bharti Airtel was the top gainer in the Sensex pack, rallying over 7.20%, followed by Tata Steel 4.99%, IndusInd Bank 3.49%, Axis Bank 3.26% and HDFC 2.57%.

On the other hand, ONGC fell 2.17%and Yes Bank shed 1.70%

According to traders, domestic benchmarks followed global equities which were enthused by reports that a preliminary trade deal between the U.S. and China may be signed by the end of this year.

Bourses in Shanghai, Hong Kong, Seoul and Tokyo were trading up to 1.50% higher.

Stocks in Europe were also trading on a positive note.

On the currency front, the rupee was flat against the US dollar at 71.71.

Brent futures, the global oil benchmark, rose 0.11% to $62.44 per barrel.

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Printable version | Dec 6, 2019 12:55:08 AM | https://www.thehindu.com/business/markets/sensex-closes-at-all-time-high-of-40889/article30076501.ece

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