Market

Opening Bell: Sensex at record high level, Nifty above 13,900; banks lead

Updated : December 29, 2020 09:33 AM IST

Broader markets extended the rally with Nifty Smallcap100 and Nifty Midcap100 indices up 0.77 percent and 0.61 percent, respectively.

The Indian equity benchmark indices opened higher on Tuesday, led by gains in banking and financial stocks amid strong global cues.

At 9:15 am, the Sensex opened 0.24 percent, or 112.87points, higher at 47,466.62, while the Nifty50 index opened at 13,910.35, up 37.15 points, or 0.27 percent.

Broader markets extended the rally with Nifty Smallcap100 and Nifty Midcap100 indices up 0.77 percent and 0.61 percent, respectively.

The gains in the domestic indices were mainly led by banks and financial stocks. All the sectoral indices were trading in the green with Nifty Private Bank gaining the most followed by Nifty Realty, Nifty Financial Services, Nifty Metal and Nifty Pharma.

On the Nifty50 index, IndusInd Bank, Coal India, Baja Auto, SBI and Axis Bank were the top gainers, while Asian paints, L&T, Nestle India and PowerGrid Corporation were the only ones to trade in the red.

Shares of Biocon gained one percent after the company launched Tacrolimus capsules in the US, expanding its generic formulations portfolio.

3i Infotech's shares rallied 5 percent after the company approved slump sale of the global software products business on a going concern basis to Azentio Software for up to Rs 1,141 crore.

Asian shares jumped on Tuesday, with Japanese stocks hitting a 30-year high, as hopes that a long-awaited US pandemic relief package would be expanded and a Brexit trade deal supported investor risk appetite, a Reuters report said.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.46 percent. Australian stocks rose 0.55 percent. Japan's Nikkei leapt 1.63 percent to its highest since August 1990, while shares in China rose 0.1 percent.

Futures for the S&P 500 added 0.32 percent.

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