Sensex Increased 316 points to reach a Record-Breaking close of 43,594; Nifty set up near 12,750

Share Market

Share Market

On Wednesday, rallying for the eighth consecutive session, equity benchmark Sensex climbed to 316 points to reach a record-breaking fence of 43,594 with Nifty settling in at nearly 12,750, tracking largely positive cues from world markets and strong foreign fund inflows.

However, after scaling a fresh intra-day peak of 43,708, the 30-share BSE index finished 316 points or 0.73 per cent greater at a record closing of 43,594; while the larger NSE Nifty settled 118 points or 0.93 per cent higher at a fresh high of 12,749.

The top or upper sheaths in the Sensex package comprises Tata Steel, Axis Bank, ITC, Kotak Bank, Bajaj Finserv, and Sun Pharma with their shares rising as much as 7.39 per cent while Reliance, Asian Paints, Hindustan Unilever, and HDFC Bank were the only losers going-down to 5.62 per cent.

Institutional Business at Reliance Securities Head Arjun Yash Mahajan told that the domestic markets remained upbeat and extended gain for the eighth consecutive day as positive sentiments among investors following clarity of coronavirus (covid-19) vaccine by BioNTech-Pfizer and strong Quarter 2 corporate earnings persist. He also said business witnessed some amount of volatility today led by profit booking in some of the heavyweights, a sharp rebound in IT, pharma, and auto stocks supported the market.

Meanwhile, a report by SIAM included India’s passenger automobile sales rise more than 14 per cent in October from a year ago.

According to provisional exchange data, on Tuesday, foreign institutional investors remained net customers in the capital business as they acquired shares worth Rs.5,627.32 crore.

Lastly, the stock exchanges in Europe were trading on a positive note in early deals while on the currency front; the rupee dropped 18 paise to close at 74.36 against the US dollar.

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