Sensex rises over 350 points; Nifty breaks 13,000 level for first time on vaccine optimism – Times of India

NEW DELHI: Equity indices scaled a record high on Tuesday in broad-based gains, as progress on US President-elect Joe Biden’s transition to the White House and optimism around another Covid-19 vaccine helped boost investor sentiment globally.
The NSE Nifty index surpassed the psychologically important 13,000 level for the first time ever and was up 0.85% or 110 points at 13,036 in early trade. The BSE sensex platform was 0.85% or 374 points higher at 44,451. The 30-share BSE barometer touched an all-time intraday high of 44,488.
All 12 Nifty sub-indexes were trading higher, with banks leading the pack. HDFC Bank and ICICI Bank were the top two boosts to the Nifty 50.
HDFC Bank surged around 1.60 per cent, followed by Maruti, ONGC, Axis Bank, L&T, Titan, ICICI Bank and PowerGrid.
On the other hand, Bajaj Auto, Nestle India, Infosys and Hindustan Unilever were among the laggards.
Foreign institutional investors remained net buyers in the capital market as they purchased shares worth Rs 4,738.44 crore on Monday, according to provisional exchange data.
In the previous session, sensex ended 195 points or 0.44 per cent higher at 44,077, and NSE Nifty rose 67 points or 0.52 per cent to close at 12,926.
The Serum Institute of India, the world’s top vaccine manufacturer, will first focus on supplying AstraZeneca’s Covid-19 vaccine to India, Serum’s chief said on Monday, potentially increasing the chances of the shot becoming available quickly in the world’s second worst-hit country.
Other Asian markets were also trading higher on Tuesday after Biden was given the go-ahead to begin his White House transition.
Meanwhile, Brent crude futures, the global oil benchmark, were trading 0.85 per cent higher at $46.45 per barrel.