India's sensex closes above 52,000 mark, banking and financial stocks surge

Business Monday 15/February/2021 16:14 PM
India's sensex closes above 52,000 mark, banking and financial stocks surge

Mumbai: Contained coronavirus infections and some broad indications of a rebound in economic activity boosted investor confidence on Monday with key equity indices trading at fresh lifetime highs.

Besides, firm global cues led to banking and financial stocks to garner handsome gains. The BSE S&P Sensex closed 610 points or 1.18 per cent higher at 52,154 while the Nifty 50 advanced by 151 points or 1 per cent to 15,315.

Sectoral indices at the National Stock Exchange were mixed with Nifty private bank up by 3.2 per cent, PSU bank by 2.2 per cent and financial service by 2.8 per cent. But Nifty metal was down by 0.4 per cent and pharma by 0.3 per cent.

Among stocks, Axis Bank moved up by 6.2 per cent to Rs 797 per share. ICICI Bank edged higher by 4.1 per cent, IndusInd Bank by 3 per cent and HDFC Bank by 2 per cent.

State Bank of India was up by 3.4 per cent to Rs 406.75 per share while Bajaj Finance ticked up by 3.64 per cent and home loan lender HDFC by 2.5 per cent.
Among the losers was HDFC Life which cracked by 2.2 per cent, SBI Life, Grasim, Coal India, Tata Steel and Dr Reddy's.

Meanwhile, Asian shares advanced to record highs as successful coronavirus vaccine rollouts globally raise hopes of a rapid economic recovery amid new fiscal aid from Washington.

MSCI's broadest index of Asia Pacific shares outside Japan jumped by 0.4 per cent.
Japan's Nikkei climbed by 1.3 per cent despite data showing the country's recovery from its worst post-war recession slowed in the fourth quarter.