Sensex, Nifty scale new highs on New Year's Day

Sensex, Nifty scale new highs on New Year's Day

Sensex rose by 117.65 points or 0.25 per cent to close at a fresh lifetime high of 47,868.98.

PTIUpdated: Friday, January 01, 2021, 04:22 PM IST
article-image
AFP PHOTO/ Indranil MUKHERJEE |

The BSE Sensex soared to record highs while the NSE Nifty closed above the 14,000-mark for the first time on Friday as markets continued their record run in the new year amid robust buying in IT, auto and FMCG stocks.

Extending its record-setting streak for the fifth day, the 30-share BSE Sensex rose by 117.65 points or 0.25 per cent to close at a fresh lifetime high of 47,868.98.

This is the eighth consecutive day of gains for the barometer and it has climbed by around 5 per cent since December 22.

The broader Nifty closed at an all-time high of 14,018.50, showing gains of 36.75 points or 0.26 per cent over its previous close.

Intra-day, the Nifty touched a record high of 14,049.85 while Sensex scaled a new peak of 47,980.36.

Among major Sensex gainers, ITC rose the most by 2.32 per cent, followed by TCS, M&M and SBI.

TCS rose by 2.02 per cent after the IT major said its board will meet on January 8 to approve financial results and a proposal for declaring the third interim dividend to shareholders.

Among other IT stocks, Tech Mahindra rose 0.23 per cent, Infosys by 0.36 per cent and HCL Tech by 0.43 per cent. Dr Reddy's, L&T, Sun Pharma, Axis Bank, IndusInd Bank, Nestle and Ultratech Cement also advanced.

Auto stocks advanced on better sales numbers for December month. Market leader Maruti, which posted a 20 per cent increase in vehicle sales in December, rose by 0.53 per cent while Bajaj Auto closed up by 1.03 per cent.

Mahindra & Mahindra rose by 1.62 per cent even as it posted a 10.3 per cent decline in total sales at 35,187 units in December 2020. The company also announced its decision to scrap a previously announced automotive joint venture with Ford citing fundamental changes in global economic conditions.

Banking giant ICICI Bank and HDFC Bank, however dropped 1.36 per cent and 0.83 per cent respectively due to profit booking.

Meanwhile, GST collections touched a record high of over Rs 1.15 lakh crore in December, reflecting festive demand and reflating economy.

The Sensex and Nifty finished the year 2020 with overall gains of around 15 per cent. The Sensex gained 15.7 per cent while the Nifty jumped 14.9 per cent in the year.

FPIs have been a major driver of the rally in Indian stock markets. According to exchange data, FPIs bought shares worth Rs 1,135.59 crore on a net basis on Thursday.

US markets also closed the pandemic-hit year at record highs on Thursday.

The S&P 500 index finished with a gain of 16.3 per cent for the year, the Nasdaq composite soared 43.6 per cent and the Dow Jones Industrial Average gained 7.2 per cent.

Most of the global markets were closed on Friday for the New Year's holiday

RECENT STORIES

Tax-Saving Tip From Zerodha CEO Nithin Kamath: 'If You're Married And Hindu..."; Here's How To Save...

Tax-Saving Tip From Zerodha CEO Nithin Kamath: 'If You're Married And Hindu...

Holy Cities Like Ayodhya, Varanasi Attracting Big Retail Brands: Report

Holy Cities Like Ayodhya, Varanasi Attracting Big Retail Brands: Report

A Big Relief For Byjus's: NCLT Rejects Investor Plea To Stay Byju's Rights Issue EGM On March 29...

A Big Relief For Byjus's: NCLT Rejects Investor Plea To Stay Byju's Rights Issue EGM On March 29...

Your Chocolates To Get Costly As Cocoa Price Surges To ₹8,33,892 Per Ton

Your Chocolates To Get Costly As Cocoa Price Surges To ₹8,33,892 Per Ton

Level Unlocked: Coal India Attains Annual Target, Scales 610.8-MT Supply

Level Unlocked: Coal India Attains Annual Target, Scales 610.8-MT Supply