Market Wrap, Dec 30: Here's all that happened in the markets today

The benchmark equity indices reversed losses in late afternoon trade to end the highly volatile session on a strong note ahead of Decemeber F&O expiry. Gains in global peers and development on the vaccine front enthused market participants, helping both Sensex and Nifty extended their winning run to 6th day in a row and end at record closing highs.

Britain on Wednesday became the first country in the world to approve a coronavirus vaccine developed by Oxford University and AstraZeneca.

Meanwhile, a media report suggested that Subject Expert Committee of the CDSCO is set to meet anytime today to consider the application of Serum Institute of India for emergency use authorization of its Covid-19 vaccine.

The BSE barometer Sensex settled 133 points higher at 47,746 while the NSE Nifty closed at 13,982, up 45 points.

Bajaj Finance, Ultratech Cement, Kotak Bank and Maruti Suzuki were among the top Sensex contributors while losses in select IT and financials kept upside capped.

Ultratech Cement rose nearly 5% and was the best performer in the 30-pack index while IndusInd Bank shed 2% to emerge as the worst loser.

The broader markets largely outperformed benchmark as Nifty Smallcap index rose 0.70% and Nifty 500 added 0.37%. Nifty Midcap rose 0.22%.

India VIX rose nearly 2% to end above the 21 mark.

The sectoral trend was mixed with banking and pharma indices ending in the red while Nifty Metal, Nifty Auto and Nifty Realty rose over 1% each.

In stock-specific developments, shares of Paisalo Digital tanked 9% after Elara India Opportunities Fund reduced stake in the firm to 1.76 by selling 2.6 per cent stake via an open market transaction on Monday.

Shares of IFGL Refractories surged 20% after the company said rating agency ICRA has upgraded credit rating assigned to the company's Rs 173 crore line of credit with a stable outlook.

That apart, the coronavirus-induced suspension of scheduled international passenger flights has been extended till January 31, aviation regulator DGCA said.

Global markets
 

European stocks edged higher on Wednesday as Britain approved a COVID-19 vaccine developed by AstraZeneca and Oxford University, while bets of more U.S. fiscal aid and massive vaccination efforts spurred hopes of a strong global economic recovery next year.

In Asian trading, MSCI’s gauge of Asia-Pacific shares excluding Japan rose 1.2% to hit a record high, led by gains in Chinese shares. Japan’s Nikkei share average, however, lost 0.45% on its last trading day of 2020.

Meanwhile, bitcoin rose as much as 6.2% to $28,572.10, its fresh record high and was on track for its biggest monthly gain since May 2019.

Lastly, futures on the S&P 500 Index gained 0.3%, indicating a firm start for Wall Street later today.