Sensex, Nifty end at record close led by banks, financials

Indian shares extended rally to end at a record close on Tuesday, with beaten-down banking stocks gaining the most on the back of an improving economic outlook. The sentiment was also higher on robust FII inflows this month.

The Sensex ended 259 points higher to its closing high of 47,613 while the Nifty rose 59 points to its record close of 13,932.

In intra-day deals as well, the indices high record highs before paring some gains. The Sensex jumped as much as 361 points to its new high of 47,714 while the Nifty rose 94 points to its all-time high of 13,967.

Nifty IT was also in the green, up 0.7 percent for the day, however, the Metal index she 1 percent and the Nifty Auto and Nifty Pharma sectors were also in the red.

On the Nifty50 index, IndusInd Bank, Tech Mahindra, Axis Bank, ICICI Bank and HCL Tech were the top gainers while Hindalco, Coal India, Nestle, Tata Motors, and NTPC led the losses.

Except IT and Bank, other sectoral indices ended in the red. BSE Midcap and Smallcap indices ended with little change.

Banking, which is among the few sectors still down this year, has been catching up with the broader market’s advance as foreign investors bet that a rebound in economic activity will benefit lenders. The Nifty Bank index was up 1.5 percent while the Nifty Fin services added 1 percent.

Highlights of today’s trading session :

  • Mining conglomerate Vedanta Resources will issue $400 million in notes to an entity under Oaktree Capital Group.
  • Allied Digital Services LLC, USA (Subsidiary company of Allied Digital Services) has bagged 3 Multi-Year prestigious services deals with a collective Total Contract Value of USD 21.8 Million from leading customers across Healthcare, Finance and Automobile segments.
  • BSE Power Index shed 1 percent dragged by the NTPC, Torrent Power, Adani Transmission
  •  The Indian rupee is trading higher by 13 paise at 73.37 per dollar, amid buying seen in the domestic equity market.
  • Crude oil prices traded up with benchmark NYMEX WTI crude oil rallied nearly 1 percent to USD 48.10 per barrel on Tuesday.
  • Shares of batteries-makers jumped up to 15 percent after reports that the American clean energy and electric vehicle company Tesla will begin its operations in India next year.
  • Metal stocks under pressure – Vedanta, Hindalco, JSPL top losers; SAIL most active
  • Rupa & Company share price spiked 10 percent on December 29 after Abakkus Emerging Opportunities Fund – 1 bought 12,00,000 shares of the company at an average price of Rs 250.5 in a bulk deal.
  • Prime Focus touched a 52-week high of Rs 58.95, rising nearly 14 percent on December 29 after Reliance Capital opposed the stake sale by Credit Suisse.
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