The Indian benchmark equity indices, Sensex and Nifty ended at record high levels on Tuesday led by strong buying in the IT and private banks. The Sensex ended 260.98 points, or 0.54 percent, higher at 48,437.78, while the Nifty closed at 14,199.50, up 66.60 points, or 0.47 percent.

Share Market Live

NSE

Broader markets supported the upmove with Nifty Smallcap100 and Nifty Midcap100 gaining over 0.6 percent each.

Among sectors, Nifty IT, Nifty Private Bank, Nifty Financial Services gained the most while Nifty Metal ended in the red. Rally in banking heavyweights such as Axis Bank, IndusInd Bank and ICICI Bank lifted Nifty Bank over 1 percent.

Axis Bank was the top gainer in the Sensex pack, rallying over 6 percent, followed by HDFC, IndusInd Bank, TCS, Asian Paints, Titan, HCL Tech and ICICI Bank.

On the other hand, ONGC, Bajaj Finance, NTPC, M&M and Reliance Industries were among the laggards.

”Domestic equities saw a brisk recovery from today’s low mainly led by sharp rebound in banking and IT stocks,” said Binod Modi, Head Strategy at Reliance Securities.

Continued improvement in COVID-19 recovery rates along with likely commencement of vaccination drive shortly and sustained improvement in key economic data defied weak global markets, he said, adding that IT stocks witnessed strong buying ahead of TCS’ Q3 FY21 numbers. Elsewhere in Asia, bourses in Shanghai, Seoul and Hong Kong ended on a positive note, while Tokyo was in the red.

(With inputs from PTI)

First Published:Jan 5, 2021 3:34 PM IST