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NEW DELHI: Equity indices on Tuesday scaled new heights on Tuesday as global investors applauded progress in the development of a coronavirus vaccine which lifted confidence for a faster world economic recovery. The indices also traded higher in tandem with global peers on hopes of improved trade relations and more fiscal stimulus under a Joe Biden presidency in the US.
The benchmark BSE sensex jumped more than 500 points to a lifetime high of 43,118 (intraday) in late morning deals; while the broader NSE Nifty traded near the 12,600-mark.
Top gainers in the BSE pack included Bajaj Finance, IndusInd Bank, Bajaj Finserv, SBI, L&T and ICICI Bank with their stocks rising as much as 6.40 per cent. On the NSE platform, sub-indices Nifty PSU Bank and Bank saw major gains and surged as much as 3.08 per cent.
On Monday, sensex vaulted 704 points or 1.68 per cent to close at its lifetime peak of 42,597. Nifty climbed 198 points or 1.61 per cent to finish at its all-time high of 12,461.
On the global front, Asian share markets mostly shot higher on Tuesday driven by regional airline, tourism and travel stocks amid progress in Covid-19 vaccine.
Pfizer Inc said its Covid vaccine, developed with German partner BioNTech SE, was more than 90 per cent effective in preventing infection, marking the first successful results from a large-scale clinical trial.
“Markets will remain on the lookout for more promising vaccine data in addition to news of a fiscal reboot,” PineBridge Investments portfolio manager Mary Nicola told Reuters.
However, some analysts sounded caution over the speed in which the vaccine could be implemented.
Meanwhile, foreign institutional investors remained net buyers in the domestic capital market as they purchased shares worth Rs 4,548.39 crore on Monday, according to provisional exchange data.
International oil benchmark Brent crude was trading 1.23 per cent lower at $41.88 per barrel.
(With agency inputs)
Source From : Times Of India
