AGL 6.78 Increased By ▲ 0.04 (0.59%)
ANL 9.38 Increased By ▲ 0.06 (0.64%)
AVN 81.40 Increased By ▲ 0.95 (1.18%)
BOP 5.47 Increased By ▲ 0.06 (1.11%)
CNERGY 5.03 Increased By ▲ 0.07 (1.41%)
EFERT 82.99 Increased By ▲ 3.08 (3.85%)
EPCL 58.95 Increased By ▲ 2.62 (4.65%)
FCCL 15.80 Decreased By ▼ -0.07 (-0.44%)
FFL 6.50 Increased By ▲ 0.15 (2.36%)
FLYNG 8.47 Increased By ▲ 0.17 (2.05%)
GGGL 10.23 Increased By ▲ 0.15 (1.49%)
GGL 16.64 Increased By ▲ 0.38 (2.34%)
GTECH 8.60 Increased By ▲ 0.12 (1.42%)
HUMNL 6.45 Increased By ▲ 0.06 (0.94%)
KEL 3.05 Increased By ▲ 0.07 (2.35%)
LOTCHEM 29.88 Increased By ▲ 0.99 (3.43%)
MLCF 28.80 Increased By ▲ 0.15 (0.52%)
OGDC 76.35 Increased By ▲ 1.85 (2.48%)
PAEL 16.35 Increased By ▲ 0.22 (1.36%)
PIBTL 5.78 Increased By ▲ 0.13 (2.3%)
PRL 17.45 Increased By ▲ 0.47 (2.77%)
SILK 1.16 Decreased By ▼ -0.03 (-2.52%)
TELE 11.40 Decreased By ▼ -0.05 (-0.44%)
TPL 8.17 Increased By ▲ 0.17 (2.13%)
TPLP 22.25 Increased By ▲ 0.90 (4.22%)
TREET 23.58 Increased By ▲ 0.48 (2.08%)
TRG 148.00 Increased By ▲ 4.09 (2.84%)
UNITY 23.35 Increased By ▲ 0.34 (1.48%)
WAVES 11.70 Increased By ▲ 0.10 (0.86%)
WTL 1.59 Increased By ▲ 0.02 (1.27%)
BR100 4,249 Increased By 69.2 (1.65%)
BR30 16,585 Increased By 383.6 (2.37%)
KSE100 42,161 Increased By 549.2 (1.32%)
KSE30 15,895 Increased By 290.3 (1.86%)
Markets

Banks lift Indian shares to record closing highs

  • The blue-chip NSE Nifty 50 index closed 0.42pc higher at 13,740.70, while the benchmark S&P BSE Sensex ended 0.48pc higher at 46,890.34.
Published December 17, 2020
Follow us

BENGALURU: Indian shares closed at record highs on Thursday on gains in financial stocks and heavyweight HDFC Bank, continuing a rally that has seen the country's main indexes scale fresh peaks in 18 of 27 sessions.

The blue-chip NSE Nifty 50 index closed 0.42pc higher at 13,740.70, while the benchmark S&P BSE Sensex ended 0.48pc higher at 46,890.34.

At its session high, the Sensex was about seven points shy of crossing the 47,000 level for the first time.

Both the indexes have posted six consecutive weekly gains, boosted by record inflows from foreign institutional investors, progress on COVID-19 vaccines globally and signs of a nascent economic recovery in the country.

Indian equities have attracted over $20 billion worth of foreign money so far this year, according to Refinitiv Eikon data, which is the highest in eight years.

The U.S. Treasury on Wednesday added India to a list of countries it says may be deliberately devaluing their currencies against the dollar.

In Mumbai trading, the Nifty Bank Index firmed 0.48pc. Private lender HDFC Bank and mortgage lender Housing Development Finance Corporation were the top boosts to the Nifty 50, rising 2.2pc and 2.9pc, respectively.

Shares of sugar producers Balrampur Chini Mills, Dhampur Sugar Mills and Rana Sugars closed between 0.8pc and 2.7pc higher, a day after India approved a subsidy of 35 billion rupees ($476.04 million) to encourage sugar exports.

Building constructor Puravankara closed 2.4pc higher, after the company said World Bank Group member IFC and its Emerging Asia Fund will invest $76 million to develop up to four of its residential projects.

Global markets scaled record highs on optimism over a U.S. stimulus package and the Federal Reserve's promise to keep pouring cash into markets.

Comments

Comments are closed.