Indian shares hit fresh record closing highs on Thursday, erasing all the losses made in early trade amid optimism over growth boosters proposed by the government in the Budget and expectations that the Reserve Bank of India will take necessary steps that enable continued growth resurgence.
The benchmark S&P BSE Sensex jumped 358.54 points, or 0.71 percent, to 50,614.29, while the broader NSE Nifty index ended up 105.70 points, or 0.71 percent, at 14,895.65.
State Bank of India surged 6.6 percent to hit a fresh 52-week high on the BSE for the second consecutive session despite the bank posting a nearly 7 percent fall in its standalone net profit for the December quarter on higher provisions.
ONGC, Shree Cement, Bajaj Finance and ITC jumped 5-6 percent, while Bharti Airtel, IndusInd Bank, Cipla, UPL and Asian Paints dropped 1-2 percent.
Future Group shares succumbed to selling pressure after capital market regulator SEBI banned Kishore Biyani, along with certain other promoters of Future Retail Ltd from the capital market for one year for indulging in insider trading in the shares of the company.
Future Retail lost 5 percent, Future Market Networks plunged 4.9 percent, Future Enterprises gave up 4.7 percent and Future Consumer tumbled 3.1 percent.
Sensex, Nifty Extend Winning Streak
2021-02-04 11:13:45
