Indian stocks continued their gaining streak to end the day with gains over half percent as optimism of economic rebound and progress in pandemic fight evinced buying interest across major sectors. The healthy earnings season and expectations of further stimulus measures by the government too bolstered investor confidence, prodding the indexes to bullish territory.
S&P Nifty 50 touched an all time high of 15450 in intra-day trade and closed at 15435.65, near the earlier peak of 15469.65, after rising 0.55 percent from yesterday’s close.
Reliance Industries Ltd was the top gainer in the index with a 5.48 percent rally. Sun Pharma Ltd declined from yesterday’s levels by 3.80 percent.
Nifty PSU Bank Index topped the sectoral rally with an addition of 0.67 percent. Nifty Pharma index declined by 1.18 percent.
S&P BSE Sensex closed at 51422.88, a gain of 0.60 percent from yesterday’s close.
Reliance Industries Ltd was the top gainer in the S&P BSE Sensex with 5.85 percent uptick. Sun Pharma Ltd trailed yesterday’s levels by 3.82 percent.
BSE Energy Index was the out-performing sectoral index with a gain of 4.36 percent, primarily driven by the rally in Reliance Industries Ltd. BSE Healthcare Index was dragged down by 0.66 percent with IPCA Laboratories Ltd shedding 7.40 percent.
Personal Consumption Expenditures (PCE) data, a key gauge of inflationary pressure, due from the U.S. later in the day, would serve as a key influence to global markets in the ensuing week, as an adverse reading could again trigger taper tantrums and sell-off in stocks.
Indian markets would additionally be looking forward to a data heavy week, packed with key economic and policy indicators viz first quarter GDP growth on Monday, Manufacturing PMI and Balance of Trade on Tuesday , Services PMI on Thursday and finally the Monetary Policy and Interest Rate decision on Friday.
Nifty Treads Record Highs, Sensex Gains Further
2021-05-28 10:58:31
