NEW DELHI: Tuesday’s equity indices climbed to new heights Tuesday as global investors applauded progress in developing a coronavirus vaccine that boosted confidence for a faster global economic recovery. The indices also traded higher along with their global peers in hopes of improving trade relations and more fiscal stimulus under Joe Biden’s US presidency.
The benchmark BSE Sensex jumped more than 500 points to an all-time high of 43,118 (intraday) in morning trading; while the broader NSE Nifty it is trading near the 12,600 mark.
The top winners in EEB’s package were Bajaj Finance, IndusInd Bank, Bajaj Finserv, SBI, L&T and ICICI Bank, with their shares rising as much as 6.40 percent. On the NSE platform, the Nifty PSU Bank and Bank sub-indices saw significant gains, increasing as much as 3.08%.
On Monday, sensex jumped 704 points or 1.68 percent to close at its peak life of 42.597. Nifty rose 198 points or 1.61 percent to finish at an all-time high of 12,461.
On the global front, Asian equity markets mostly soared Tuesday, driven by regional airlines, tourism and travel stocks amid progress on the Covid-19 vaccine.
Pfizer Inc said its Covid vaccine, developed with German partner BioNTech SE, was more than 90 percent effective at preventing infections, marking the first successful results of a large-scale clinical trial.
The benchmark BSE Sensex jumped more than 500 points to an all-time high of 43,118 (intraday) in morning trading; while the broader NSE Nifty it is trading near the 12,600 mark.
The top winners in EEB’s package were Bajaj Finance, IndusInd Bank, Bajaj Finserv, SBI, L&T and ICICI Bank, with their shares rising as much as 6.40 percent. On the NSE platform, the Nifty PSU Bank and Bank sub-indices saw significant gains, increasing as much as 3.08%.
On Monday, sensex jumped 704 points or 1.68 percent to close at its peak life of 42.597. Nifty rose 198 points or 1.61 percent to finish at an all-time high of 12,461.
On the global front, Asian equity markets mostly soared Tuesday, driven by regional airlines, tourism and travel stocks amid progress on the Covid-19 vaccine.
Pfizer Inc said its Covid vaccine, developed with German partner BioNTech SE, was more than 90 percent effective at preventing infections, marking the first successful results of a large-scale clinical trial.
“Markets will remain on the lookout for more promising vaccine data as well as news of a fiscal reset,” PineBridge Investments portfolio manager Mary Nicola told Reuters.
However, some analysts were cautious about how quickly the vaccine could be rolled out.
Meanwhile, foreign institutional investors remained net buyers in the domestic capital market, purchasing shares worth Rs 4,548.39 crore on Monday, according to interim exchange data.
Brent crude oil’s international benchmark was trading 1.23% lower at $ 41.88 a barrel.
(With contributions from the agency)
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