Market Live: Sensex Closes 139 Points Higher, Nifty Reclaims 13,500 As Markets Bounce Back
- The Sensex ended 139.13 points, or 0.30 per cent, higher at 46,099.01, and the Nifty settled at 13,513.85, up 35.55 points, or 0.26 per cent, from its previous close. Both indices registered a sixth straight weekly gain. (Track Sensex, Nifty Here)
- Top percentage gainers in the Nifty basket of 50 shares were ONGC, NTPC, GAIL, Coal India and Tata Steel, closing between 1.93 per cent and 5.46 per cent higher. On the other hand, Axis Bank, Divi's Laboratories, Adani Ports, Mahindra & Mahindra and Eicher Motors, down 1.11-2.34 per cent each, were the worst hit among 26 laggards in the index.
- ONGC ended 5.46 per cent higher at Rs 96.65 apiece on the BSE, having scaled a nine-month high during the session, after Brent crude futures jumped to quote above the $50-per-barrel mark for the first time since March, as coronavirus vaccination rollouts kept hopes alive that demand for crude would build up next year.
- ICICI Bank, ITC and NTPC were the biggest boosts for Sensex, contributing more than 100 points to the gain in the index. (Also Read: Stocks To Watch Today)
- The markets have been riding on hopes of a fast recovery from the coronavirus-caused slowdown and also on foreign fund inflows.
- Agrochemical firm UPL ended 0.90 per cent lower at Rs 434.50, extending losses a day after a report that its promoters siphoned off money. UPL has denied the report.
- Analysts awaited macroeconomic data for near-term cues. Data on factory activity will be released after market hours on Friday, and that on consumer inflation on Monday.
- Retail inflation likely fell to 7.10 per cent in November from 7.61 per cent in the previous month, but remained above the Reserve Bank of India's target amid high food and petrol prices, according to a poll of economists by news agency Reuters.
- Asian markets moved lower as concerns about US stimulus and climbing COVID-19 cases weighed globally on optimism. MSCI's broadest index of Asia Pacific shares outside Japan was down 0.26 per cent at the last count. Japan's Nikkei 225 benchmark traded 0.54 per cent lower. Â
- US Treasury Secretary Steven Mnuchin said negotiations over a new COVID-19 relief package were making "a lot of progress," although lawmakers in both parties said action could take longer than originally hoped. Attention on the stimulus package grew sharper after new data showed the number of Americans filing first-time claims for jobless benefits jumped to a near three-month high, as spiking COVID-19 cases weighed on economic activity.
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