In a first, Sensex crosses 48,000-mark, Nifty soars past 14,000
Domestic stock markets brought good news for investors as the S&P BSE Sensex index traded above 48,000 for the first time ever. The Sensex recorded a jump of 299.24 points, roughly 0.63%, to come at 48,168.22 on Monday morning. Likewise, the broader NSE Nifty 50 benchmark went as high as 14,107.75, a climb of 89.25 points (0.64%) from the previous close. Here's more.
TCS, Infosys, HDFC Bank helped in historic rise of Sensex
Nifty Metal logged the highest rise of more than 2%. It was followed by Nifty PSU Bank, Nifty Pharma, and Nifty IT. As per reports, Tata Consultancy Services, Infosys, ICICI Bank, and HDFC Bank emerged as the biggest contributors to Sensex gain. Separately, Tata Motors, GAIL, Tata Steel, Eicher Motors, and ONGC, became the top percentage gainers in the 50 shares basket of Nifty.
Rupee registered minor gain against dollar
The Indian rupee earned 18 paise against a dollar, opening at Rs. 72.94. On Friday, it closed at Rs. 73.12 for a dollar. Investors are hoping central banks play a part in keeping money cheap, while a coronavirus vaccine helps in overturning the losses inflicted by the pandemic. The virus which originated in China last year damaged economies.
Foreign funds were helping market inch higher: Expert
Ajit Mishra, VP-Research, Religare Broking Ltd told PTI why the market was reacting jubilantly. According to him, foreign fund inflow played a major role. "Among the key events, earnings season starts this week with IT major TCS results scheduled on January 8. On the economic front, participants will be eyeing the PMI manufacturing and services data," he said.
Japan's Nikkei fell after PM spoke of 'state of emergency'
Separately, the Asian shares continued their glorious run on Monday. However, speculations of coronavirus-linked curbs in Tokyo had some impact. Japan's Nikkei fell by nearly 0.4% after Prime Minister Yoshihide Suga declared that the government was considering to impose a state of emergency in Tokyo. MSCI's broadest index of Asia-Pacific shares outside Japan recorded a gain of 1.2%.