MUMBAI: The domestic stock markets remained firm for the ninth consecutive day on Monday amid positive signals from overseas and the 30-share BSE Sensitive Index Sensex crossed the 48,000 mark for the first time.
The Sensex closed up 307.82 points, or 0.64 per cent, at 48,176.80 points amid all-round buying. The National Stock Exchange’s Nifty also closed at a new record level of 14,132.90 points with a gain of 114.40 points, or 0.82 percent.
The stock market has been witnessing a steady rise since December 21. During the nine trading days during this period, the Sensex has gained 2,622.84 points i.e. 5.76 percent and Nifty has gained 804.05 points i.e. 6.04 percent.
Investors showed more confidence in medium and small companies. The BSE midcap today gained 1.42 percent to 18,421.52 points and the smallcap gained 1.37 percent to end at 18,510.83 points.
Investors are hopeful that the economy will be back on track soon after the announcement of commencement of the Kovid-19 vaccination dry run in the country. At the same time, the investment sentiment remains strong even after the market returned for the first time after the New Year holiday abroad.
Metals, IT, tech, oil and gas, telecom, health and FMCG companies contributed the most to the market growth. ONGC’s share in the Sensex companies rose more than four percent. TCS also rose by a quarter to four percent. The shares of HCL Technologies rose by three per cent, Tech Mahindra by two and a half per cent and Infosys and Mahindra & Mahindra by over two per cent. Kotak Mahindra Bank’s stock lost nearly one and a half percent.
