Extending their winning streak to the seventh consecutive session, the benchmark indices gained more than 1 percent to hit record levels for the second consecutive session on Tuesday. Investor confidence got a big boost after Pfizer said its experimental Covid-19 vaccine was more than 90 percent effective based on the results of the initial trial.
The S&P BSE Sensex broke the crucial 43,000 level to settle at 43,278, an increase of 680 points or 1.6%, while the NSE Nifty added 170 points or 1.36% to end the session at 12,631 levels. India VIX today gained more than 7 percent at 21.57 levels.
HDFC, HDFC Bank, ICICI Bank, and Reliance Industries (RIL) were the top contributors to Sensex’s earnings today.
However, the overall market continued to underperform. The S&P BSE MidCap Index closed 0.10 percent lower at 15,544 levels, while the S&P BSE SmallCap Index closed at 15,232, down 0.48 percent.
On the sector front, tech and pharmaceutical stocks fell in trade. Nifty IT fell almost 4 percent to 20,978.50 levels while Nifty Pharma decreased more than 4 percent to 11,168.90 levels.
Global markets
Japan’s Nikkei 225 ended up nearly 0.3 percent after rising 1.1 percent in early trading, hitting a 29-year high.
In commodities, oil prices rose as high hopes that a Covid-19 vaccine might be on the horizon were enough to nullify fears that demand for fuel would weaken in the short term. Gold rose more than 1 percent, after a sharp decline in the last session.
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