Markets

Sensex higher by 373 points, Nifty above 10,850

The benchmark Sensex retreated from initial record level to trade at 35,455.70, up by 373.88 points, in late morning deals led by banks, financials, FMCG, capital goods, auto and industrial sectors amid higher Asian cues.

Earlier the key indices zoomed to fresh record highs to mark 35,486.72 by rallying over 400 points.

Upbeat sentiment ruled the momentum over surging global peers on strong global growth prospects.

Banking and private-lenders extended its rally on easing fiscal deficit concerns, after the government cut additional borrowing requirement to Rs 200 billion from Rs 500 billion notified earlier.

Metal, IT, Oil&Gas, Teck and Realty saw profit-booking after its recent continous gains.

The benchmark BSE Sensex gained 373.88 points or 1.07 per cent to trade at 35,455.70 at 1050 hrs. The broader Nifty was also trading higher by 82.40 points or 0.76 per cent at 10,870.95.

Major gainers were YesBank 3.08 per cent, IndusindBk 2.83 per cent, ITC 2.82 per cent, HDFC Bank 2.67 per cent and HDFC 2.49 per cent.

Losers include Tata Steel 1.57 per cent, Infy 1.17 per cent, Wipro 0.78 per cent, Coal India 0.57 per cent and Asian Paint 0.48 per cent.

Foreign portfolio investors (FPIs) bought shares worth Rs 625.13 crore on net basis while domestic institutional investors (DIIs) also bought equities to the tune of Rs 168.61 crore yesterday, provisional data showed.

Asian markets extended this year’s stellar run, following their US counterparts amid optimism for global growth.

US stocks rose to fresh highs yesterday as companies continued to indicate the tax overhaul will boost earnings this year.

 

 

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Printable version | Feb 21, 2021 10:37:05 PM | https://www.thehindu.com/business/markets/sensex-hits-another-peak-of-3547670-nifty-at-1088710/article22461384.ece

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