Closing Bell: Sensex ends above 45,000 for the first time ever, Nifty at record close; banks surge

Updated : December 04, 2020 03:38 PM IST

In intraday deals, Sensex rose as much as 515 points to hit its record high of 45,148 while the Nifty gained 146 points to its all-time high of 13,280.

The Sensex ended 447 points higher at its closing high of 45,079 while the Nifty added 124 points to settle at its record close of 13,271.

Both indices were also 2 percent higher for the week.

Sensex crossed 45,000-mark for the first time on Friday, ending at record close after RBI upgraded its GDP target for the current fiscal year and kept interest rates steady in the face of stubbornly high inflation.

The Sensex ended 447 points higher at its closing high of 45,079 while the Nifty added 124 points to settle at its record close of 13,258. Both indices were also 2 percent higher for the week.

In intraday deals, Sensex rose as much as 515 points to hit its record high of 45,148 while the Nifty gained 146 points to its all-time high of 13,280.

Reserve Bank of India Governor Shaktikanta Das said India’s prospects have brightened with progress on COVID-19 vaccines and projected real GDP for the current financial year to shrink 7.5 percent from an earlier expectation of a 9.5 percent contraction.

The RBI kept the key lending rate unchanged at 4 percent. The central bank has already cut its key interest rate by a total 115 basis points this year to revive growth and cushion the impact of the pandemic.

Governor Das also announced measures to improve access to funding for stressed sectors and said the RBI would take further steps when necessary to ensure ample rupee liquidity to sustain visible growth impulses.

Rate sensitive sectors rose after the RBI policy with the Nifty Bank index surging the most, up 2 percent. Nifty Realty and Nifty Fin Servcies also rose 1 percent each while Nifty Auto added 0.6 percent.

Other sectors including pharma, metal, FMCG were also ended over a percent higher for the day.

On the Nifty50 index, Adani Ports, ICICI Bank, Hindalco, UltraTech Cement, and Sun Pharma were the top gainers while RIL, HDFC Life, Bajaj Finserv, BPCL, and HCL Tech led the losses.

Published : December 04, 2020 03:34 PM IST

Closing Bell: Sensex ends above 45,000 for the first time ever, Nifty at record close; banks surge

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