Sensex, Nifty Hit Record Highs On Global Trade Optimism

The S&P BSE Sensex and NSE Nifty 50 indexes hit new all-time highs this afternoon on the back of cooling trade tensions between Washington and Beijing. At 3.05 pm, the NSE Nifty 50 index was up 0.8 per cent or 104 points at 12,158. The S&P BSE Sensex had recorded a new all-time high of 41,262.88 earlier in the day and is currently trading at 41,332, higher by 394 points. Nifty rose as much as 111 points to hit an all-time high of 11,165.

The Nifty Mid- and small-cap indices gained 0.5% and 0.7% at 4,642 and 5,684 respectively. All the NSE sectoral indices were trading in the green, with the exception of pharma and realty. The metal index galloped by 3% at 2,673, with Tata Steel, Vedanta, Hindalco and JSW Steel surging by 2-5% each. Tata Motors, HDFC and Infosys were the other significant gainers on the NSE.

On the other hand, Gail, Sun Pharma, Reliance Industries and Bajaj Auto bucked the positive momentum to shed up to 2%

Wall Street had touched record highs for the third straight session on Monday after US President Donald Trump approved a phase one trade deal with China and economic data from China showed that industrial output and retail sales growth accelerated in November. Taking cue from Wall Street and and upbeat domestic data from China, Asian shares rose to their highest in more than a year this morning and the positive sentiment has rubbed on to the Indian markets.