Sensex, Nifty Scale Record High Levels Supported by Positive Vaccine News

Equity benchmark indices Sensex and Nifty opened on a bullish note and hit record high levels in early trade on Tuesday, tracking positive cues from global markets amid improved risk appetite supported by fresh vaccine news. The 30-share BSE index rallied 274.66 points or 0.63 per cent to scale the fresh peak of 43,912.64.

Similarly, the broader NSE Nifty gained 74.45 points or 0.58 per cent to a lifetime high of 12,854.70. Tata Steel was the top gainer in the Sensex pack, rising over 4 per cent, followed by Bharti Airtel, SBI, HDFC Bank, M&M, Asian Paints and Reliance Industries.

On the other hand, HCL Tech, Infosys, Bajaj Auto, ITC, Axis Bank and Bajaj Finance were among the losers. In the special Muhurat trading session to mark the beginning of Hindu Samvat year 2077 on Saturday, BSE Sensex soared 194.98 points or 0.45 per cent to close at a record 43,637.98. The broader NSE Nifty advanced 60.30 points, or 0.47 per cent, to finish at its lifetime high of 12,780.25.

Equity markets were closed on Monday on account of Balipratipada. On the global front, US equities surged to record high after biotech group Moderna said its COVID-19 vaccine was highly effective.

Elsewhere in Asia, bourses in Hong Kong, Seoul and Tokyo were trading higher in mid-session deals, while Shanghai was in the red. The wholesale price-based inflation on Monday rose to an eight-month high of 1.48 per cent in October, as manufactured products turned costlier.

Brent crude futures, the global oil benchmark, rose 0.75 per cent to USD 44.15 per barrel.