NEW DELHI: Stock indices continued to rise Tuesday with the benchmark BSE sensex rising nearly 450 points led by gains in bank stocks amid positive global signals.
After hitting an intraday high of 44,602, the 30-share BSE Index rose 446 points or 1.01 percent to close at 44,523; while the broader NSE Nifty topped the key psychological level of 13,000 for the first time to settle at 129 points or 1 percent higher at 13,055.
Axis Bank, M&M, HDFC Bank, ITC, SBI and ICICI Bank were the top winners in the sensex package with their shares climbing as much as 4.02 percent.
While HDFC, Titan, Nestlé India, Bharti Airtel and ONGC were the main losers, falling as much as 1.47 percent.
On the NSE platform, the Nifty Bank, Private Bank, Auto and Financial Services sub-indices rose as much as 2.46%.
According to experts, signs of progress in the Covid-19 vaccine spurred hopes for a faster economic recovery.
On the vaccine front, AstraZeneca’s encouraging interim results for its Covid-19 injection were followed Monday by the announcement from the manufacturer Serum Institute that it would focus on supplies for India first, raising hope that the vaccine is quickly available in the second most affected country in the world. country.
“There are still concerns about a second wave of the virus, especially in a country like India, where the second wave has just started in some cities,” Siddharth Khemka, head of retail research at Motilal Oswal, told Reuters news agency.
“A vaccine calms that fear. The expectation is that things will normalize faster,” he added.
Other Asian markets also rose as US President-elect Joe Biden received the go-ahead to begin his transition to the White House.
Meanwhile, foreign institutional investors remained net buyers in the capital market, buying shares worth 4,738.44 crore on Monday, according to interim data from the exchange.
(With contributions from the agency)
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