Market Live: Sensex Crosses 48,000 Mark For First Time Ever As Markets Continue Record Run
Domestic stock markets continued a record-breaking spree on Monday, with the S&P BSE Sensex index trading above the 48,000 mark for the first time ever, tracking record highs in Asian equities as investors pinned their hope on vaccines to eventually deliver a global economic upturn. The Sensex jumped 299.24 points, or 0.63 per cent, to an all-time high of48,168.22 in early deals and the broader NSE Nifty 50 benchmark soared to as high as 14,107.75, climbing up 89.25 points, or 0.64 per cent, from its previous close. Gains across sectors, led by banking, financial services, automobile and IT shares, supported the markets.
MSCI’s broadest index of Asia-Pacific shares outside Japan swung 0.80 per cent higher to an all-time peak following a slow start
Here are 10 things to know:
- At 9:22 am, the Sensex traded 238.18 points, or 0.50 per cent, higher at 48,107.16 while the Nifty was up 80.25 points, or 0.57 per cent, at 14,098.75.
- Tata Motors, GAIL, Tata Steel, Eicher Motors and ONGC, trading between 1.82 per cent and 3.11 per cent higher, were the top percentage gainers in the Nifty basket of 50 shares.
- On the other hand, Reliance Industries, Hero MotoCorp and Asian Paints – down 0.44 per cent, 0.31 per cent and 0.11 per cent respectively – were the only laggards in the index.
- Tata Consultancy Services, Infosys, ICICI Bank and HDFC Bank were the biggest contributors to the gain in Sensex.
- Analysts awaited corporate earnings for near-term cues. IT bellwether Tata Consultancy Services is scheduled to report its financial results on Fri, January 8.
- Asian markets rose, with MSCI’s broadest index of Asia-Pacific shares outside Japan swinging 0.80 per cent higher to an all-time peak following a slow start.
- The E-Mini S&P 500 futures were steady after also touching a record high. EUROSTOXX 50 futures were flat, while FTSE futures rose 0.40 per cent.
- Investors are still counting on central banks to keep money cheap while coronavirus vaccines help revive the global economy over time, though much of that optimism is already priced in and the virus still spreading.
- Japan’s Nikkei 225 benchmark shed early gains to fall 0.40 per cent after Prime Minister Yoshihide Suga confirmed the government was considering a state of emergency for Tokyo and three surrounding prefectures.
- Investors are cautiously watching runoff elections in Georgia for two US Senate seats on Tuesday that will determine which party controls the Senate. If the Republicans win one or both, they will retain a slim majority in the chamber and can block President-elect Joe Biden’s legislative goals and judicial nominees.
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