Market run continues; Sensex ends at new high of 47,868, Nifty tops 14,000

The Sensex soared to record highs while the Nifty closed above the 14,000-mark for the first time on Friday, as markets continued their record run in the new year amid robust buying in IT, auto and FMCG stocks.

Extending its record-setting streak for the fifth day, Sensex rose by 117.65 points or 0.25 per cent to close at a fresh lifetime high of 47,868.98. This is the 8th consecutive day of gains for the barometer and it has climbed by around 5 per cent since December 22.

The broader Nifty closed at an all-time high of 14,018.50, showing gains of 36.75 points or 0.26 per cent over its previous close. Intra-day, the Nifty touched a record high of 14,049.85 while Sensex scaled a new peak of 47,980.36.

Among major Sensex gainers, ITC rose the most by 2.32 per cent, followed by TCS, M&M and SBI.

TCS rose by 2.02 per cent after the IT major said its board will meet on January 8 to approve financial results and a proposal for declaring the third interim dividend to shareholders.

Among other IT stocks, Tech Mahindra rose 0.23 per cent, Infosys by 0.36 per cent and HCL Tech by 0.43 per cent. Dr Reddy’s, L&T, Sun Pharma, Axis Bank, IndusInd Bank, Nestle and Ultratech Cement  also advanced.

Auto stocks advanced on better sales numbers for December. Maruti, which posted a 20 per cent rise in vehicle sales in December, rose by 0.53 per cent while Bajaj Auto closed up by 1.03 per cent.

Mahindra & Mahindra rose by 1.62 per cent even as it posted a 10.3 per cent decline in total sales at 35,187 units in December 2020.

The company also announced its decision to scrap a previously announced automotive joint venture with Ford citing fundamental changes in global economic conditions.