Sensex rises 680 points, Nifty settles at 12,631 : Bull run continuesNovember 11, 2020
By Administrator _India
The benchmark indices logged fresh all-time highs on Tuesday after promising trial results for a Covid-19 vaccine provided further ammunition to the bulls.
Joe Biden’s victory in the US Presidential elections have already turbocharged the global markets. The Sensex closed at 43,277, up 680 points, or 1.6 per cent. The index has gained 3,664 points, or 9.3 per cent this month.
The Nifty50 rose 170 points, or 1.4 per cent, to end at 12,631. Both indices on Monday had surpassed their previous lifetime highs hit on January 17.
While the headline indices posted strong gains, sectors that have outperformed this year — such as information technology (IT) and pharmaceutical – fell, while those that lagged the market, such as financials, hospitality, and aviation, rallied sharply.
The BSE IT and Healthcare indices fell nearly 4 per cent each. On the other hand, stocks such as Indian Hotels, Lemon Tree Hotels, InterGlobe Aviation, and Bajaj Finance dominated the leaderboard.
A similar trend was seen on the Wall Street on Monday, where firms such as Zoom and Netflix— seen to be benefiting from the stay-at-home theme – tanked, and airlines, cruise lines, and energy companies jumped.