Sensex, Nifty at day's high; banks stocks in demand

Key indices were trading near record high levels in morning trade. The Nifty hovered around the 13,950 level. Buying was seen in bank, financial and IT stocks.

At 10:26 IST, the barometer index, the S&P BSE Sensex, added 285.52 or 0.60% at 47,639.56. The Nifty 50 index gained 73.3 points or 0.53% at 13,946.15.

The Sensex hit a fresh record high of 47,714.55 while the Nifty scaled an all-time high of 13,967.60 in morning trade.

The broader market underperformed the benchmark index. The S&P BSE Mid-Cap index was up 0.34% while the S&P BSE Small-Cap index gained 0.49%.

The market breadth was positive. On the BSE, 1486 shares rose and 988 shares fell. A total of 153 shares were unchanged.

 

Investor sentiment continued to remain upbeat after President Trump signed a $2.3 trillion pandemic aid while the U.K. and the E.U. struck a a Brexit trade deal last week.

On Monday, foreign portfolio investors (FPIs) bought shares worth Rs 1,588.93 crore, while domestic institutional investors (DIIs), were net sellers to the tune of Rs 1,386.55 crore, provisional data showed.

COVID-19 Update:

Total COVID-19 confirmed cases worldwide stood at 81,259,797 with 1,774,130 deaths. India reported 268,581 active cases of COVID-19 infection and 148,153 deaths while 9,807,569 patients have been discharged, according to the data from the Ministry of Health and Family Welfare, Government of India.

Buzzing Index:

The Nifty Bank index surged 1.34% to 31,293.70. The index has rallied 6.24% in five trading sessions.

IndusInd Bank (up 3.85%), RBL Bank (up 3.32%), Bandhan Bank (up 3.02%), Punjab National Bank (up 2.78%), Bank of Baroda (up 2.64%), HDFC Bank (up 1.3.6%), Axis Bank (up 1.28%) and SBI (up 1.22%) were top gainers in Bank Nifty segment.

Stocks in Spotlight:

TVS Motor Company rose 0.7%. TVS Motor Company introduced the 2021 TVS Apache RTR 160 4V with Bluetooth enabled TVS SmartXonnect in Bangladesh. This is the first-of-its-kind two-wheeler connected cluster technology in the country.

AU Small Finance Bank was up 0.12%. The bank announced its partnership with ICICI Prudential Life Insurance to offer customised, need and goal-based Life Insurance solution.

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