Sensex closes 429 points higher as widespread buying dominates markets

Sensex

The equity benchmark BSE Sensex in India soared high skies at 429 points on Thursday on account of widespread buying. This was because of a move in the global markets which occurred due to the Covid-19 vaccine trials. 

After having soared around 600 points during the market session, the index settled 439.25 points or 1.21 percent, higher at 35,843.70. The NSE Nifty went up to 121.65 points or 1.17 percent to eventually close at 10,551.70. 

When it comes to the big winners, M&M seemed to be at the top of the Sensex pack, which experienced a jump of 6 percent. This big player was followed by Tital, HCL Tech, Tata Steel, Infosys, and TCS. 

But all not seemed well for companies like Axis Bank, HUL, Kotak Bank, and Bharti Airtel who lost some points today. 

Narendra Solanki who is the Head-Equity Research, Anand Rathi rallied tracking positive Asian peer on News that Germany’s BioNTech and US pharmaceutical giant Pfizer reported positive preliminary results from a joint project for probable coronavirus vaccine. 

Furthermore, positive factory output data across various economies too boosted global investor’s risk appetite, opined certain traders. 

Updates on the Rupee

When it comes to the currency, the rupee grew 56 paise to finally settle at a 75.04 against the US dollar. 

In the last few months, Indian economy has yearned for positive returns and this meek growth but growth nonetheless could prove to be a sign of hope to devastated investors who had lately lost faith in the market recovering

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