New Delhi: The equity index surged to record the highest on Tuesday with BSE Sensex benchmarks up more than 400 points led by benefits in metal, banking and financial stocks.
The 30-Share BSE index jumped 403 points or 0.73 percent to close at a record high of 55,959; While the wider NSE settled 128 points or 0.78 percent higher at a fresh peak of 16,625.
The top players in the sensex package include Bajaj Finserv, Tata Steel, Tech Mahindra, Bajaj Finance, HDFC Bank and SBIs with their shares rose by 7.92 percent.
Meanwhile, Nestle India, Infosys, HDFC, HCL Tech and Cat Asia are the main losers down to 1.34 percent.
On the NSE platform, the nifty metal sub-index, Bank, Bank PSU and financial services rose as much as 2.9 percent.
The Nifty Metal Index rebounded after four loss sessions were led by a 2.8 percent increase to 3.2 percent among Vedanta, Hindalco, and Indian steel authorities.
Gail energy companies rose as much as 5.1 percent after the government, announced a national monetization program aimed at increasing infrastructure spending and spurred economic growth, and said plans to monetize state assets worth $ 81 billion over the next four years.
This includes pipes and gas roads that have been built, among others.
“If implemented effectively, national monetization pipes (NMP) will help target two birds with one stone – fund important infrastructure projects but maintain a fiscal consolidation plan on track without sacrificing the Capex allocation,” said Radhika Rao on DBS Bank, said in a note in the office News of Rueters.
Asian shares track bouncing on Wall Street after Food and Drug Administration (FDA) gave full approval to the Covid-19 vaccine developed by Pfizer and Bionech.
Meanwhile, foreign institutional investors (FIIS) are clean sellers in the capital market because they lowered shares worth 1,363.36 crore on Monday, according to temporary exchange data.
(With input from agency)