Benchmark indices Sensex and Nifty crossed psychological marks on Monday (November 25), with the 30-share BSE Sensex gained over 450 points to hit a new all-time high of 40857.73, while the broader 50-share NSE Nifty gained over a percent to go past the 12,000-mark. All the sectoral indices are trading higher led by metal, infra, pharma and PSU banks.
The benchmark equity index got a boost in sync with global markets over reports that US and China may soon reach a trade deal ending their 16-month-long costly trade war.
Reports of an early trade deal trumped investors growth concerns. India is scheduled to release its Q2 GDP figures later this week which is widely expected to be below 5 per cent.
At 1.50 pm, the Sensex was up 464.53 points at 40,823.94 after hitting its life-time high of 40,845.86 earlier in the day. The broader Nifty also surpassed the 12,000-mark led by index-heavyweights like Reliance Industries and Infosys.
The top Sensex gainers were Bharti Airtel, advancing over 5 per cent, followed by Tata Steel, Vedanta, IndusInd Bank, HFDC Bank. On the Nifty50, 43 scrips gained while seven traded lower.
During early hours on Monday, the BSE S&P Sensex was up by 216 points at 40,576 while the Nifty 50 gained by 58 points to 11,972 at 10:15 am. All sectoral indices at the National Stock Exchange except for Nifty media were in the green with Nifty metal up by 2.17 per cent and realty by 1.36 per cent.
Tata Steel gained by 2.7 per cent, JSW Steel by 2.5 per cent, Hindalco by 2.1 per cent and Vedanta by 1.6 per cent. Even telecom majors witnessed handsome gains with Bharti Airtel up by 4 per cent, Bharti Infratel by 2.8 per cent and Vodafone Idea by 1.5 per cent.
Realty major DLF Ltd added gains of 2.9 per cent at Rs 222.80 per share while Oberoi Realty edged higher by 0.8 per cent. Index heavyweight Reliance Industries traded 1.1 per cent higher at Rs 1,563.65 per share. However, those which lost were Zee Entertainment, Bharat Petroleum Corporation, HCL Technologies, Wipro and Yes Bank.
Meanwhile, Asian shares made guarded gains as investors hoped for some progress in the US-China trade dispute.MSCI`s broadest index of Asia Pacific shares outside Japan bounced by 0.8 per cent while Japan`s Nikkei firmed by 0.9 per cent while Shanghai blue chips rose by 0.4 per cent.
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