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Sensex Gains For Eighth Straight Day; Nifty Ends Above 14,000 For First Time: Mid- and small-cap shares outperformed their larger peers.
Eight of 11 sector gauges compiled by the National Stock Exchange ended higher led by the Nifty PSU Bank index’s over 3 per cent gain.
The S&P BSE Sensex and NSE Nifty 50 indexes closed at record highs on the first session of 2021 paced by gains in state-run banking, information technology, auto, FMCG and pharma shares. The benchmarks staged a gap up opening wherein the Sensex gained for eighth session in row, rising as much as 229 points to hit an all-time high of 47,980.36 and Nifty closed above 14,000 for the first time. Tata Consultancy Services, ITC, State Bank of India and Infosys were among the top movers in the Sensex.
The Sensex ended 118 points higher to close at an all-time high of 47,868.98 and Nifty 50 index climbed 37 points to close at record high of 14,018.50.
Eight of 11 sector gauges compiled by the National Stock Exchange ended higher led by the Nifty PSU Bank index’s over 3 per cent gain. Nifty IT, Auto, FMCG, Media and Pharma indexes also rose 0-6-0.8 per cent.
On the other hand, Nifty Private Bank, Bank and Financial Services indexes ended lower.
Mid- and small-cap shares outperformed their larger peers as Nifty Midcap 100 and Nifty Smallcap 100 indexes rose over 1 per cent each.
Antony Waste Handling Cell shares made a strong market debut opening at ₹ 430 apiece on the BSE. That marked a premium of 36.51 per cent from the upper end of the issue price of the municipal solid waste management service provider’s IPO, which was subscribed more than 15 times last month. Antony shares jumped as much as 56.43 per cent to quote at ₹ 492.75 apiece on the bourse at the strongest level of the day.
Adani Ports was top Nifty gainer, the stock rose 4.4 per cent to close at ₹ 505. TCS, ITC, Mahindra & Mahindra, State Bank of India, Tata Motors, Bharti Airtel, Bajaj Auto, Sun Pharma and Cipla also rose between 0.9-2.4 per cent each.
On the flipside, ICICI Bank, SBI Life, Hindalco, HDFC Bank, Titan, Bajaj Finance and Bajaj Finserv were among the losers.
The overall market breadth was positive as 2,049 shares ended higher while 951 closed lower on the BSE.
The week gone by has been quite in favor of Bulls and the Investors who have bought stocks during the pandemic fall, were highly delighted to get a bonanza and the midcap and small cap stocks too outperformed their peers and MFs have reaped substantial gains boosting their NAVs under various schemes particularly Equity based and Hybrid Funds.
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