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Market capitalisation hits record high of Rs 176 lakh crore on COVID-19 vaccine hopes, economic recovery

While Sensex closed at a record high of 44,655 rising 505 points, Nifty climbed 140 points to 13,109

twitter-logoBusinessToday.In | December 1, 2020 | Updated 17:52 IST
Market capitalisation hits record high of Rs 176 lakh cr on COVID-19 vaccine hopes, economic recovery
Sun Pharma, IndusInd Bank, Tech Mahindra, ONGC, Bharti Airtel, Infosys, ICICI Bank and Bajaj Auto led the rally on Sensex gaining up to 5%

Investor wealth rose to an all-time high on BSE today as Sensex hit record closing high during the first session of December. Market cap on BSE climbed to a record Rs 176.22 lakh crore in the session as a smaller-than-expected fall in India's economic growth and hopes for a COVID-19 vaccine boosted sentiment on Dalal Street.

While Sensex closed at a record high of 44,655 rising 505 points, Nifty climbed 140 points to 13,109.

Meanwhile, India VIX, the volatility gauge of stock market rose a meager 1.82% to 20.18.

Sun Pharma, IndusInd Bank, Tech Mahindra, ONGC, Bharti Airtel, Infosys, ICICI Bank and Bajaj Auto led the rally on Sensex gaining up to 5%.

On the other hand, Kotak Bank, Nestle India, Titan, Bajaj Finance, HDFC Bank and NTPC were among the top losers.

Among sectors, BSE realty, telecom and teck indices rose up to 3.49 per cent.

Foreign institutional investors (FIIs) remained net buyers in the capital market as they bought shares worth Rs 7,712.98 crore on Friday.

India's economy recovered faster than expected in the September quarter as a rise in manufacturing activity helped GDP clock a lower contraction of 7.5 per cent.

Meanwhile, global investors were optimistic about the development of a possible coronavirus vaccine despite caution about the short-term economic impact of rising virus cases in the United States and Europe. The positive sentiment in global market helped Indian  indices to close in positive territory.

Sensex jumps 505 points, Nifty ends above 13,100; Infosys, ONGC, Airtel top gainers

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