Equity benchmarks Sensex and Nifty scaled fresh intra-day records in opening trade on Monday, tracking gains in heavyweights Reliance Industries, ICICI Bank and HDFC.
After touching a lifetime high of 53,126.73, the 30-share BSE index was trading 142.85 points or 0.27 per cent higher at 53,067.89 in initial deals.
Also read: Asian shares kick-off week on cautious note as Covid-19 cases spike
Similarly, the broader NSE Nifty was trading 42.25 points or 0.27 per cent higher at 15,902.60. It touched a lifetime intra-day peak of 15,915.65 in the opening session.
Asian Paints was the top gainer in the Sensex pack, rising over 1 per cent, followed by Dr Reddy’s, NTPC, Axis Bank, Sun Pharma, Kotak Bank, ICICI Bank and Reliance Industries.
On the other hand, Titan, TCS, UltraTech Cement, Bharti Airtel and L&T were among the laggards.
In the previous session, the 30-share index Sensex closed 226.04 points or 0.43 per cent higher at a record 52,925.04, and Nifty advanced 69.90 points or 0.44 per cent to 15,860.35.
Foreign institutional investors (FIIs) were net sellers in the capital market offloading shares worth ₹678.84 crore on Friday, as per provisional exchange data.
According to Binod Modi, Head-Strategy at Reliance Securities, domestic markets look modestly good as of now.
“A sharp fall in daily caseload and satisfactory ramp-up in the vaccination process overshadowed concerns emerging from higher crude prices and weakening rupee,” he said, adding that better-than-expected Q4 FY21 earnings performance of companies has also supported the market’s uptick.
Elsewhere in Asia, bourses in Shanghai, Seoul and Tokyo were trading with losses in mid-session deals.
Meanwhile, international oil benchmark Brent crude was trading 0.17 per cent lower at $75.25 per barrel.
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.