Sensex, Nifty hit record high as lenders jump

BSE Sensex and NSE Nifty hit another record high on Tuesday, extending their rally backed by foreign inflows, with private-sector lenders gaining the most due to an improving economic outlook. The NSE Nifty 50 index was up 0.57% at 13,953.10 by 0354 GMT, while the S&P BSE Sensex was 0.6% higher at 47,644.29. Both indexes hit record highs. Lenders HDFC Bank Ltd and ICICI Bank Ltd were the top boosts to the Nifty.

In encouraging news on the COVID-19 vaccine front, Indian vaccine maker Serum Institute said it expected the British and Indian governments to approve the Oxford/AstraZeneca shot for emergency use within a few days.

Hopes that a U.S. pandemic relief package would be expanded were aiding investor sentiment globally, boosting broader Asian shares.

The BSE gauge Sensex was trading 228.73 points or 0.48 per cent higher at a fresh record of 47,582.48 in early deals. Likewise, the NSE barometer Nifty jumped 66.50 points or 0.48 per cent to a new high of 13,939.70 in the opening session.

On the Sensex chart, IndusInd Bank, HCL Tech, Kotak Bank, Axis Bank, HDFC Bank and Bajaj Auto were top gainers.

Barring Nestle, Asian Paints and PowerGrid, all shares were trading in the green on the Sensex.

On Monday, the Sensex had settled up by 380.21 points or 0.81 per cent at its all-time closing high of 47,353.75; and the Nifty too had risen by 123.95 points or 0.90 per cent to a new closing high of 13,873.20.

Asian shares were trading mostly higher following positive global trends after the US cleared the much awaited coronavirus relief bill.

US President Donald Trump signed into law a massive USD 2.3 trillion spending bill that includes a USD 900 billion coronavirus relief package, averting a government shutdown and extending coronavirus aid to millions suffering from the economic impact of the pandemic.

The advancement of rollout of COVID-19 vaccines in India too uplifted domestic sentiments, leading to a positive momentum across all sectors, analysts said.

Meanwhile, the global oil benchmark Brent crude futures rose 0.22 per cent to USD 51.06 per barrel.

Foreign portfolio investors (FPIs) purchased shares worth a net Rs 1,588.93 crore on Monday, as per exchange data.

The story has been taken from a news agency