The S&P BSE Sensex climbed 0.3% to 47,868.98 in Mumbai at the end of a ninth straight week of gains. The NSE Nifty 50 Index advanced by the same magnitude.
Prospects for global recovery amid progress with Covid vaccines has caused investors to shift from defensive growth stocks to cheaper economically sensitive shares.
Indian equity indices conquered new peaks Tuesday, as banking, FMCG and auto stocks saw heavy buying amid optimism over Covid vaccine progress and unabated foreign capital inflows.
HDFC Bank was the top gainer in the Sensex pack, surging around 1.60 per cent, followed by Maruti, ONGC, Axis Bank, L&T, Titan, ICICI Bank and PowerGrid.
Sensex has rallied almost 11% since hitting a more than two-month low on 24 September. It is less than 2% away from wiping out its losses for the year.
While bond yields tend to fall amid low inflation & interest rate cuts, market experts say they’ve been rising due to concerns over tax collections, fiscal deficit & potential impact of US tariffs.
It is one of the most advanced long-range air defence and anti-missile radars. It has been acquired under an about USD 145-million deal signed in 2020.
To be truly functional and durable, even eternal, a state doesn’t just need a leader, a party or an ideology. It needs functional and robust institutions.
COMMENTS