Sensex, Nifty end at fresh record highs; TCS jumps 3 pc

Domestic equities witness brisk recovery from day’s low mainly led by a rebound in FMCG and pharma stocks

Sensex, Nifty end at fresh record highs; TCS jumps 3 pc

Photo for representation. PTI file

Mumbai, January 14

Resuming its record-setting streak, equity benchmark Sensex advanced 92 points on Thursday, led by gains in index majors TCS, Reliance Industries and L&T amid a positive trend in global markets.

Recovering from a shaky start, the 30-share BSE index ended 91.84 points or 0.19 per cent higher at its new lifetime closing high of 49,584.16.

Similarly, the broader NSE Nifty rose 30.75 points or 0.21 per cent to finish at a record 14,595.60.

TCS was the top gainer in the Sensex pack, rising around 3 per cent, followed by IndusInd Bank, L&T, ITC, HUL, Reliance Industries and Sun Pharma.

On the other hand, HCL Tech, Axis Bank, Asian Paints, UltraTech Cement and Infosys were among the laggards.

Domestic equities witnessed a brisk recovery from the day’s low mainly led by a rebound in FMCG and pharma stocks, said Binod Modi, Head- Strategy at Reliance Securities.

IT index has been most surprising as profit-booking was visible in many IT stocks despite strong Q3 numbers and upbeat guidance shared by the managements.

“We believe underlying strength of the market remains intact and any correction in the market is likely to be bought out. Sustained recovery in key economic data for Dec’20, better-than-expected 3Q FY21 corporate earnings so far and upbeat managements’ commentaries continue to augur well for the market,” he said.

Elsewhere in Asia, bourses in Hong Kong, Seoul and Tokyo ended in the positive territory, while Shanghai was in the red.

Stock exchanges in Europe were also trading with gains in early deals.

Meanwhile, the global oil benchmark Brent crude was trading 0.12 per cent lower at USD 55.99 per barrel. PTI

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