INDIAN EQUITY MARKET EXTENDEDED ITS GAINING STREAK AND SETTLED AT RECORD HIGH LEVEL

Domestic Equity Market settled at record high level on Tuesday led by gains in banking stocks amid strong global cues. Investor sentiment got a major boost after Pfizer said its experimental Covid-19 vaccine was more than 90 per cent effective based on initial trial results.

The BSE Sensex crossed the crucial 43,000 level to settle at 43,277.65, up 680.22 points, or 1.60percent.20 out of 30 stocks were in advance while 10 stocks were in decline.It touched intraday high of 43,316.44 and low of 42,660.09.

The NSE's Nifty added 170.05 points, or 1.36 per cent to end the session at 12,631 levels.32 out of 50 stocks were in advance while 18 stocks were in decline.It touched intraday high of 12,643.90 and low of 12,475.25.

On Sectoral Front, Bank, Realty, Energy, Media, Auto, Metal, FMCG Indexes were the gainers with a gain of 3.89%, 2.06%, 1.43%, 1.04%, 0.74%, 0.45%, 0.13% respectively while Pharma, IT Indexes were the losers with a loss of 4.33%, 3.86% respectively.

On BSE, Shares of Bajaj Finance,IndusInd Bank,L & T, Bajaj Finaserv, HDFC,SBI,ICICI Bank, ONGC were the gainers with a gain of 8.84%, 7.71%, 6.69%, 6.44%,5.62%, 5.56%, 4.58%, 3.93%, 3.36% respectively while shares of Tech Mahindra,HCL Tech,Nestle India,Infosys,Sun Pharma,TCS,Bharti Airtel,Marutiwere the losers with a loss of 5.73%, 5.36%, 4.08%, 3.98%, 3.66%, 2.79%, 1.17%, 1.15% respectively.

On NSE, Shares of Bajaj Finance, IndusInd Bank, L & T, Bajaj Finance, SBI, HDFC, Gail, ICICI Bank, HDFC Bank were the gainers with a gain of 8.93%, 7.29%, 6.85%, 5.96%, 5.69%, 5.43%, 4.97%, 4.78%, 3.93% respectively while shares of Tech Mahindra, Cipla, HCL Tech, Divi’s Lab, Nestle India, Infosys, Dr. Reddy,Sun Pharma,TCS were the losers with a loss of 5.73%, 5.37%, 5.01%, 4.49%, 3.83%, 3.75%, 3.37%, 3.36%, 2.66% respectively.

Asian stock markets rose for second day Tuesday on hopes for progress toward a possible coronavirus vaccine that might allow the world to revive manufacturing, shopping and normal life.

European stocks fluctuated Tuesday morning, after the previous session’s rally on hopes an effective coronavirus vaccine has been found.

TOP STOCKS IN NEWS:

Bajaj Finance gained over 8% after the chairman Sanjiv Bajaj told shareholders in the company's annual report, on being cautiously optimistic about the second half of the year.

HDFC gained over 5% as Mortgage lender HDFC has announced a reduction in its retail prime lending rate (RPLR) on housing loans, on which its adjustable rate home loans (ARHL) are benchmarked, by 10 basis points.

SBI rose over 5% as State Bank of India, the country’s largest lender is in talks to partner with gold loan start up Rupee, a move which could potentially increase the fintech’s reach manifold overnight.