Sensex, Nifty finish at all-time highs

Mumbai, December 17

The Sensex and Nifty sprinted to all-time highs for the fifth session on the trot on Thursday, in tandem with global markets after the US Fed’s accommodative stance further fuelled risk-on sentiment.

After touching its lifetime intra-day high of 46,992.57, the Sensex settled 223.88 points higher at 46,890.34 — its new closing record.

Similarly, the Nifty rose 58 points to a new closing high of 13,740.70. It hit a lifetime peak of 13,773.25 during the day.

HDFC topped the Sensex gainers’ chart, spurting 2.92%, followed by Bajaj Finance, HDFC Bank, IndusInd Bank, UltraTech Cement, PowerGrid, TCS, Tech Mahindra and L&T.

On the other hand, ONGC, Maruti, Tata Steel, HUL, Bajaj Auto and Sun Pharma were among the main laggards, tumbling up to 1.55%.

World stocks soared to fresh highs after the US Federal Reserve said it will continue with its massive monetary stimulus until it sees “substantial further progress” in employment and inflation levels.

The US central bank also vowed to maintain its monthly bond purchases of at least $120 billion. “Market is rallying on the affirmation of the US FOMC policy decision to keep rates unchanged and assurance of continued support through further stimulus until the economy reaches the employment and inflation target. Along with this, the market is inching higher on expectations of upcoming events like further stimulus packages, Brexit progress and vaccine developments.

“Post the recent rally, mid and small-caps in India are marginally slowing down, they failed today to participate in the rally with the flattish trend, adding caution ahead of forthcoming developments,” said Vinod Nair, Head of Research at Geojit Financial Services.

Sector-wise, BSE finance, capital goods, realty, bankex, industrials, energy and healthcare indices rose up to 1.01%, while metal, oil and gas, utilities, FMCG and auto lost as much as 1.42%.

In the broader markets, the BSE midcap and smallcap indices fell up to 0.23%.

Elsewhere in Asia, bourses in Shanghai, Hong Kong and Tokyo ended with gains, while Seoul was in the red.

Stock exchanges in Europe were also largely trading on a positive note. — PTI

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