Stocks

Benchmarks inch up to fresh highs; HDFC twins sparkle

PTI Mumbai | Updated on December 15, 2020

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Equity benchmark Sensex recovered from early losses to end marginally up at its new closing record on Tuesday, led by gains in index majors HDFC twins.

The 30-share BSE index ended 9.71 points or 0.02 per cent higher at 46,263.17.

Similarly, the broader NSE Nifty rose 9.70 points or 0.05 per cent to close at its fresh all-time high of 13,567.85.

Bajaj Finance was the top gainer in the Sensex pack, surging around 5 per cent, followed by Bajaj Finserv, HDFC, Tech Mahindra, HDFC Bank, UltraTech Cement and Tata Steel.

On the other hand, HUL, Nestle India, ICICI Bank, Axis Bank, SBI, TCS and ITC were among the laggards.

S&P Global Ratings on Tuesday raised India’s growth projection for the current fiscal to (-) 7.7 per cent from (-) 9 per cent estimated earlier on rising demand and falling COVID-19 infection rates.

Meanwhile, retail inflation declined to 6.93 per cent in November on softer food prices, though it remained above the comfort level of the Reserve Bank, official data released after market hours on Monday showed.

The rupee closed 8 paise lower at 73.63 (provisional) against US dollar.

Foreign portfolio investors (FPIs) were net buyers in the capital markets as they purchased shares worth Rs 2,264.38 crore on Monday, according to provisional exchange data.

Elsewhere in Asia, bourses in Shanghai, Seoul, Hong Kong and Tokyo closed on a negative note.

Stock exchanges in Europe were trading with gains in early deals.

 

 

Published on December 15, 2020

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