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.
India’s foreign policy today is driven less by Western alignment or global liberalism and more by domestic political imperatives — economic, ideological, and electoral.
Electronics—specifically smartphones—& energy & pharma products make up 30% of Indian exports to US. 25% tariff on India came into effect Thursday, extra 25% to kick in by August-end.
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