Extending their gaining streak into the seventh session in a row, the benchmark indices gained over 1 per cent to settle at record high levels for the second one consecutive session on Tuesday. Investor sentiment got a major boost after Pfizer said its experimental Covid-19 vaccine used to be more than 90 per cent effective based on initial trial results.
The S&P BSE Sensex topped the the most important 43,000 level to settle at 43,278, up 680 points, or 1.6 per cent while NSE’s Nifty added 170 points, or 1.36 per cent to end the session at 12,631 levels. India VIX today gained over 7 per cent to 21.57 levels.
HDFC, HDFC Bank, ICICI Bank, and Reliance Industries (RIL) were the major contributors to the Sensex’s gain today.
The broader market, on the other hand, continued to underperform. The S&P BSE MidCap index ended 0.10 per cent lower at 15,544 levels while the S&P BSE SmallCap index settled at 15,232, down 0.48 per cent.
On the sectoral front, technology and pharma stocks slipped in the business. The Nifty IT fell almost 4 per cent to 20,978.50 levels while Nifty Pharma declined over 4 per cent to 11,168.90 levels.
Japan’s Nikkei 225 ended up almost 0.3 per cent after being 1.1 per cent higher in early trading, touching a 29-year high.
In commodities, oil prices rose as high hopes that a Covid-19 vaccine could be on the horizon were enough to cancel out fears that fuel demand is set to weaken in the close term. Gold jumped more than 1 per cent, following a sharp slide in the final session.