The Indian market continues to rally at fresh record highs as the year 2020 nears its ending. Investors are bullish and broad-based buying is witnessed across sectoral indices. Notably, banking stocks stood top bulls of the day for second-consecutive day.
In the opening bell, Sensex touched a fresh record high of 47654.16 and Nifty 50 an all-time high of 13,957.30. Both Sensex and Nifty are racing towards 47,700-level and 14,000-mark.
At around 09.31 am, Sensex was trading at 47,633.70 above 279.95 points or 0.59%. While Nifty 50 soared by 80.20 points or 0.58% and was performing at 13,953.40.
Top gainers on Sensex were -
IndusInd Bank (+3.18%), followed by HCL Tech (+1.76%), Kotak Bank (+1.17%), Axis Bank (+1.17%) and SBI (+0.96%).
Major heavyweights like
HDFC Bank, Dr Reddy's, Sun Pharma, ICICI Bank, Bajaj Auto, HDFC and ITC also gained between 0.5-1%.
IT-giant
TCS trades on a higher note with a market capitalisation of over Rs11 lakh cr becoming the second company to earmark such a valuation on exchanges after Reliance Industries.
Top underperformers on Sensex were - Nestle followed by
Power Grid, Bharti Airtel, L&T and NTPC down marginally.
BSE SmallCap saw substantial buying surging by nearly 1%. Other market indices were also in the green, however, small-caps were top picks.
On sectoral indices front, BSE Bankex was the star performer skyrocketing by a massive 460.19 points or 1.30% at 35,909.02. BSE Healthcare zooming by 119.75 points or 0.55% at 21,767.60 and BSE IT at 24,269.60 climbing by 123.48 points or 0.51% - also played role in driving the benchmarks.
Majority of Asian stocks traded bullish during Tuesday's session along with US and Europe futures after the US hinted for higher stimulus checks following President Donald Trump signing $2.3 trillion Covid-19 relief and government funding bill.
Japan's Nikkei surges over 410 points, while Hang Seng jumps nearly 260 points. Australia ASX All Ordinaries also added 0.34% gain. Mumbai Sensex traded at new record-highs.
However, South Korea's KOSPI, Shanghai SE Composite Index and Taiwan TSEC 50 Index were in the red.
On US markets front, Nasdaq Composite settled at 12,899.42 above 94.69 or 0.74%, Dow Jones Industrial Average at 30,403.97 higher by 204.10 points or 0.68% and S&P 500 index soared 32.30 points or 0.87% at 3,735.36.