Mumbai: The rally in the domestic stock markets continued for the 10th consecutive day today and the BSE 30-share Sensex Sensex gained 260.98 points, or 0.54 percent, to 48,437.78 points and the National Stock Exchange’s Nifty gained 66.60 points, or 0.47 percent. 14,199.50 points closed at a new record level.
There was pressure of profit booking in the early trade in the big companies, but later the market rebounded and came into the lead. Banking and financial sector companies as well as companies like TCS, Hindustan Unilever and Infosys contributed the most to market strength.
Investors showed more confidence in medium and small companies. The BSE midcap gained 1.38 percent to 18,676.13 points and the smallcap gained 0.71 percent to close at 18,641.74 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. Also, there is a boom in the stock markets abroad, due to which the investment sentiment remains strong.
Axis Bank shares rose over six per cent in Sensex companies. Shares of HDFC and IndusInd Bank rose more than two and a half per cent, TCS gained 1 and 2 per cent and Titan by 1.5 per cent. ONGC shares fell two per cent.
Most of the stock markets abroad remained in green mark. In Asia, South Korea’s Kospi gained 1.57 per cent, China’s Shanghai Composite 0.73 per cent and Hong Kong’s Hangseng rose 0.64 per cent. However, Japan’s Nikki plunged 0.37 percent. The UK’s FTSE was up 0.49 percent in early trade in Europe, while the German Dax lost 0.07 percent.