Sensex rises 259 points to hit fresh record closing of 47,613; Nifty eyes 13,950 – Times of India

NEW DELHI: Equity indices finished higher for the fifth straight session on Tuesday as both the BSE and NSE scaled fresh closing peaks, amid positive global cues.
After scaling an intra-day high of 47,715, the 30-share BSE index rose 259 points or 0.55 per cent to finish at 47,613; while the broader NSE Nifty settled 59 points or 0.43 per cent to close at 13,933.
Top gainers in the sensex pack included IndusInd Bank, Tech Mahindra, Axis Bank, ICICI Bank, HDFC and HCL Tech rising as much as 5.79 per cent.
While Nestle India, NTPC, Power Grid, Dr Reddy, Reliance and M&M were the top losers falling up to 1.74 per cent.
On the NSE platform, sub-indices Nifty Bank, Private Bank and Financial Services gained as much as 1.55 per cent.
Hopes that a US pandemic relief package would be expanded were aiding investor sentiment globally, boosting broader Asian shares.
“Large private-sector lenders have been proving themselves time and again with good asset quality and decent growth,” Neeraj Dewan, director at New Delhi-based Quantum Securities told news agency Reuters.
“When foreign institutional investors come to buy, these lenders are normally on top of their list,” he added.
Further, analysts believed that the advancement of rollout of Covid-19 vaccines in India too uplifted domestic sentiments, leading to a positive momentum across all sectors.
India reported seven cases of the new, more infectious variant of the coronavirus, all from people who had returned from Britain. However, the daily rise in overall infections in the country has been slowing.
Meanwhile, foreign portfolio investors (FPIs) purchased shares worth a net Rs 1,588.93 crore on Monday, as per exchange data.
(With agency inputs)