Sensex hits 46,000 mark today and Nifty pegged around 13,500 primarily supported by IT stocks. RIL, SBI were some of the most active stocks. Nifty Bank index paced up by 1 percent. Reliance Industries, SBI, HDFC Bank, Axis Bank and TCS were among most active shares of the NSE. At 12:08pm, Sensex was at 45,956.28, up 347.77 points 0.76%, while Nifty climbed 90.60 points or 0.68% at 13,483.55. ITC jumped up by 2%, was the top Sensex gainer followed by ONGC, Infosys, Axis Bank and HCL Tech. Tata Steel, Maruti Suzuki and HDFC were among the losers recorded. Of 30 Sensex shares, 23 were in the green.
24 stocks take up more than 75% of the BSE 100 performance in FY21 so far. Bulk of the equity market performance since FY17 has been led by a handful of stocks while the broader indices have underperformed significantly. However, we are witnessing tremendous changes in terms of the number of stocks contributing to majority of the Index performance. As of 12:06 pm Indian rupee traded lower at 73.59 per dollar, amid buying seen in the domestic equity market.
As of 1:02 pm, Oil & Gas index rose 1 percent with the top tier occupied by the GSPL, IOC, ONGC. Foreign institutional investors (FIIs) were net buyers in Indian equity market worth more than $8 billion in November and about 50 percent of it went to banking stocks followed by FMCG, pharma, and auto sector, Edelweiss Securities said in a report.
A Bloomberg survey of 63 investors, strategists and traders found the efficacy of Coronavirus vaccine is likely to be the biggest market driver for next year, discrediting worries about the fiscal laxity of governments and China’s economic growth path. China still emerged as the overwhelming favourite across currencies and stocks, while investors were most optimistic for Latin American bonds, the November 18-25 poll found. Argentina remained a source of unease.
