Mumbai : Banking on FII investment and positive news from US Fed, Sensex rose over 220 points to close near 46,900 while Nifty closed near 13750. Both the indices settled at a new high on Thursday.
The US Fed said it would keep pumping money into the markets, so this means that there is no end in sight to cheap liquidity which has been the driving force behind market gains in the last few days.
The investor sentiments were upbeat with hopes of early effective vaccine becoming available and signs of economic recovery being visible.
HDFC twins contributed the most to Sensex”s gains. Reliance Industries and some Financials were also in demand.
The IPO of Mrs Bectors Food was subscribed nearly 200 times on the final day on Thursday, following the grand success of Berger King.
Experts opined that December will trade with positivity bias while they expect volatility in January.
The Markets looked up as Defence Ministry cleared acquisition proposals worth Rs 28,000 crore.
In the 50-share pack, Divi’s Labs was the biggest gainer, up 2.64 per cent. Shree Cement, HDFC, Ultratech Cement, Bajaj Finance, IndusInd Bank, Power Grid, Dr Reddy’s Labs and Grasim Industries were among the other gainers.
Adani Ports was the top loser in the pack, down 1.23 per cent, HUL,Coal India, ITC, Bajaj Auto, Asian Paints, NTPC, SBI Life Insurance, Indian Oil and HCL Tech were the other losers.
