The Sensex hit a fresh record high of 45,291.56 while the Nifty 50 index scaled new high of 13,322.25 in early trade
The broader market extended its winning run to seventh consecutive trading session. The S&P BSE Mid-Cap index was up 0.6% while the S&P BSE Small-Cap index rose 0.99%.
In the past seven sessions, the Mid Cap index has gained 6.57% while the Small Cap index added 7%.
The market breadth, indicating the overall health of the market, was strong. On the BSE, 1819 shares rose and 627 shares fell. A total of 153 shares were unchanged.
COVID-19 Update:
Total COVID-19 confirmed cases worldwide stood at 67,027,780 with 1,535,492 deaths. India reported 3,96,729 active cases of COVID-19 infection and 140,573 deaths while 91,39,901 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.
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Economy:
The Ministry of Commerce and Industry and the Ministry of AYUSH have decided to work together to set up an Export Promotion Council to boost AYUSH exports. This decision was taken recently in a joint review of AYUSH trade and Industry by Piyush Goyal, Minister of Commerce and Industry and Shripad Naik, Minister of AYUSH. It was also decided in the review that the entire AYUSH sector will work together to achieve price and quality competitiveness to boost AYUSH exports. The review was held through video conference on 4th December 2020, which was attended by nearly 50 industry and trade leaders from the AYUSH Sector. More than 2000 stake-holders of the AYUSH Sector also attended the e-event through live streaming on virtual platforms.
Buzzing Index:
The Nifty FMCG index rose 1.15% to 32,728.85, extending its winning run to fourth consecutive trading session. The index has added 3.23% in four trading sessions.
Varun Beverages (up 2.21%), ITC (up 1.92%), Hindustan Unilever (up 1.66%), United Breweries (up 1.59%), Emami (up 1.59%), United Spirits (up 1.02%), Tata Consumer Products (up 1%) and Dabur (up 0.37%) were top gainers in FMCG segment.
Stocks in Spotlight:
Eicher Motors added 0.37% after the company's subsidiary VE Commercial Vehicles (VECV) commenced commercial production at its new truck manufacturing unit at Bagroda, Bhopal. VECV is a joint venture between the Volvo Group and Eicher Motors. In operation since August 2008, the company includes the complete range of Eicher branded trucks and buses, Volvo Buses, exclusive distribution of Volvo Trucks in India, engine manufacturing and exports for Volvo Group, non-automotive engines and Eicher component business.
Kennametal India jumped 2.86% after the company's board approved the merger of WIDIA India Tooling, a wholly-owned subsidiary of the company with its holding company, Kennametal India. This merger will enable Kennametal India to streamline the go-to market model and enhance its relevance to the customers in India by offering full range of solutions from Kennametal and WIDIA branded products. The merger would also enhance market coverage, reach to customers and brings in techno-commercial synergies to service our customer requirements in a more effective manner.
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