Equity benchmark indices hit fresh highs during early hours on Monday amid positive global cues after US President Donald Trump signed into law a 2.3 trillion dollar pandemic aid and spending package.
At 10:15 am, the BSE S&P Sensex was up by 298 points or 0.63 per cent at 47,272 while the Nifty 50 advanced by 90 points or 0.65 per cent to 13,839.
All sectoral indices at the National Stock Exchange were in the green with Nifty realty rising by 3 per cent, metal by 1.8 per cent, PSU bank and auto by 1 per cent each.
Among stocks, Tata Motors jumped by 3.6 per cent to Rs 182.40 per share after the United Kingdom and European Union negotiators finalised a historic post-Brexit trade agreement. The EU so far has been a single market for the Tata Motors-owned Jaguar Land Rover but this is set to change after the UK’s exit from the European Union.
Metal stocks too saw handsome gains with JSW Steel moving up by 2.5 per cent, Tata Steel by 1.5 per cent and Hindalco by 1.4 per cent. The other major winners were SBI Life, HDFC Life, IndusInd Bank, GAIL and Adani Ports.
However, those which lost were Hindustan Unilever, Britannia, Nestle India and Cipla.
Meanwhile, Asian shares ticked up as US President Donald Trump signed into law a 2.3 trillion dollar pandemic aid and spending package he had until now refused to sign.
Japan’s Nikkei inched up 0.4 per cent. MSCI’s broadest index of Asia Pacific shares outside Japan rose by 0.2 per cent with many markets still closed for a holiday.
The rollouts of Covid-19 vaccines also bolstered hopes of more economic normalisation next year with Europe launching a mass vaccination drive on Sunday.