Rallying for the 10th straight session, equity benchmark Sensex jumped 261 points to finish at a fresh record on Tuesday, tracking gains in index majors HDFC twins, Axis Bank and TCS.
Despite opening on a adverse note, the 30-share BSE index pared all losses and staged a clever recovery to finish 260.98 points or .54 per cent greater at 48,437.78. It touched an all-time higher of 48,486.24 for the duration of the day.
Similarly, the broader NSE Nifty rose 66.60 points or .47 per cent to settle at a new peak of 14,199.50. It scaled a record intra-day higher of 14,215.60.
Axis Bank was the top rated gainer in the Sensex pack, rallying more than 6 per cent, followed by HDFC, IndusInd Bank, TCS, Asian Paints, Titan, HCL Tech and ICICI Bank.
On the other hand, ONGC, Bajaj Finance, NTPC, M&M and Reliance Industries had been amongst the laggards.
“Domestic equities saw a brisk recovery from today’s low mainly led by sharp rebound in banking and IT stocks,” mentioned Binod Modi, Head Strategy at Reliance Securities.
Continued improvement in COVID-19 recovery prices along with probably commencement of vaccination drive shortly and sustained improvement in important financial information defied weak international markets, he mentioned, adding that IT stocks witnessed robust acquiring ahead of TCS’ Q3 FY21 numbers.
Elsewhere in Asia, bourses in Shanghai, Seoul and Hong Kong ended on a positive note, when Tokyo was in the red.
Stock exchanges in Europe had been trading on a mixed note in early bargains.
Meanwhile, the international oil benchmark Brent crude futures rose .69 per cent to USD 51.44 per barrel.