Sensex Ends 529 Points Higher, Nifty Reclaims 13,700 Led By Financial Stocks
Domestic stock markets extended gains to a third straight day on Thursday, tracking strength across Asian equities amid optimism on more fiscal spending in major economies and expectations that COVID-19 vaccines will become more available next year. The S&P BSE Sensex index rose 609.22 points, or 1.31 per cent, to touch 47,053.40 at the strongest level of the day, and the broader NSE Nifty 50 benchmark climbed to as high as 13,771.75, up 170.65 points, or 1.25 per cent, from its previous close. (Also Read: All You Need To Know About Mrs Bectors' Listing And Other Stocks To Watch Today)
The Sensex ended 529.36 points, or 1.14 per cent, higher at 46,973.54, and the Nifty settled at 13,749.25, up 148.15 points, or 1.09 per cent, from its previous close. Both indices finished the holiday-truncated week on a flat note. (Track Sensex, Nifty Here)
Tata Motors, Sun Pharma, Axis Bank, Reliance Industries, Indian Oil and ONGC, ending between 2.37 per cent and 3.90 per cent higher, were the top percentage gainers in the Nifty basket of 50 shares.
On the other hand, Infosys, Wipro, Nestle, HCL Tech and UPL, closing 0.59-1.25 per cent each, were the worst hit among 18 laggards in the index.
Reliance Industries, HDFC, HDFC Bank and ICICI Bank were the biggest contributors to the gain in the 30-scrip benchmark.
Domestic share markets have climbed over 17 per cent since the start of November, boosted by record inflows from foreign institutional investors (FIIs) and progress on COVID-19 vaccines.
Stocks have regained momentum after a torrid start to the week on expectations of wider vaccine availability and comments from the pharma industry on preparations to combat the new variant of the coronavirus that emerged in Britain.
Global stocks rallied on Thursday as Britain and the European Union closed in on a free-trade deal.
Biscuit maker Mrs Bectors Food Specialities' shares more than doubled in their market debut.
Investors cheered news that Britain and the European Union were on the cusp of striking a narrow trade deal on Thursday, which would help avoid shipping and travel chaos on both sides of the English Channel.
The markets will remain closed on Friday for Christmas.
