Sensex, Nifty’s Record Run Continues; Nifty Bank Gains 1,000 Points

Indian equity markets continued their record-breaking run, extending their winning streak for the seventh straight day, ending at another record high.

The S&P BSE Sensex ended 1.6% higher, above the mark of 43,000 for the first-time. The index closed at 43,277. The NSE Nifty 50 index ended above the mark of 12,600 - up 1.36% at 12,631. 32 out of the 50 index constituents ended with gains.

The Nifty Bank ended at its highest level since March, ending 1,071 points or 3.9% higher at 28,606. The index has gained 4,700 points in the last seven trading sessions.

Also among the gains was the PSU Bank index, which ended with gains of 3.7%. The Nifty Realty ended 2% higher while the Nifty Media index gained 1%.

The only underperformers in today's session were Nifty I.T. and Nifty Pharma, as investors chose to take profits off the table from defensives into more economy-oriented sectors. The Nifty I.T. index ended 3.9% lower while the Pharma index fell 4.3%. All the respective index constituents ended with losses.

Broader markets underperformed in today's session. The Nifty Midcap index ended 0.3% higher while the Smallcap index ended little changed.

India Volatility Index ended 7.3% higher at 21.57.

1,016 stocks on the NSE posted losses while 857 ended with gains.

• Benchmark indices hold on to gains near the day's high
• Nifty up 0.9% at 12,571
• Sensex up 1% at 43,044
• Nifty Bank up another 880 points or 3.2% at 28,416
• Nifty Midcap index up 0.2%
• Nifty Smallcap index up 0.1%
• India Volatility Index up 5.4% to 21.2
• Nifty I.T. and Nifty Pharma are the top sectoral laggards; down 3.7% each
• Nifty PSU Bank is among the top sectoral gainers; up 3.2%
• Bajaj Finance is the top Nifty gainer; up 6.9%
• Cipla is the top Nifty laggard; down 6%
• 866 stocks on the NSE are trading with gains while 916 are declining

• Benchmark indices scale new records; gain for the seventh straight day
• Nifty up 0.8% at 12,556
• Sensex up 0.8% at 42,949
• Nifty Bank up 2.5% at 28,207
• Nifty Midcap index up 0.4%
• Nifty Smallcap index up 0.5%
• India Volatility Index up 3% to 20.71
• Nifty PSU Bank index also contributes to gains; up 2%
• Nifty Media index is among the top sectoral gainers; up 1.7%
• Nifty I.T. index is the top sectoral laggard; down 2.4%
• Nifty Pharma index is the other sectoral laggard; down 1.2%
• Nifty FMCG index is down 0.8%
• Bajaj Finance is the top Nifty gainer; up 4.8%
• Tech Mahindra is the top Nifty laggard; down 3.5%
• 942 stocks on the NSE are trading with gains while 765 are declining

Indian equity markets opened higher for the seventh straight day, at new record highs, as sentiment across the globe remains positive.

Investors are taking heart from the developments pertaining to the Covid-19 vaccine developed by Pfizer and Bio-N-Tech.

The S&P BSE Sensex opened 0.85% higher at 42,959 while the NSE Nifty 50 index opened 0.8% higher at 12,556.

I.T. stocks are the top laggards in today's session, as investors shift bets away from defensives into more economy-oriented sectors. The Nifty I.T. index has opened 0.9% lower.

The Nifty Bank index has opened another 1.8% higher, adding to its six-day gaining streak. The Nifty Media index is up 1.7% while the Nifty PSU Bank and Nifty Auto indices have opened with gains of 1% each.

Broader markets have opened in-line with benchmarks. Both Nifty Midcap and Nifty Smallcap indices are gaining 0.8% each at the start of trade.

Monday was a day of records on Dalal Street—a record high for the Nifty and Sensex, and six Nifty constituents ending at a 52-week high. The Nifty Bank, though 5,000 points away from its lifetime high, gained over 3,600 points during the six-day gaining streak.

Futures indicate that the rally may continue. The Singapore-traded SGX Nifty, an early indicator of the Nifty 50 Index’s performance in India, rose 1.4% to 12,672 as of 7:45 a.m. on Tuesday.

JK Cement, Oil India, EID Parry, IndiaMart InterMesh, Voltamp Transformers may react to their quarterly results reported after market hours on Monday.

Three Nifty 50 companies — GAIL, M&M and Hindalco — will announce their quarterly results today. Broader market firms like Aarti Industries, Bata, Exide Industries, Motherson Sumi, NMDC, Raymond, RITES, TTK Prestige and Tata Power, among others, too, will report financials today.

Asian markets like Japan, Hong Kong and Australia are rising, while those in China are little changed. Futures on the Dow Jones have recovered from their session's low and are trading 30 points higher.

West Texas Intermediate crude fell 1.3% to $39.77 per barrel.

Short on time? Well, then listen to this podcast for a quick summary of All You Need To Know before the opening bell.