Markets at lifetime high amid positive global cues; Sensex tops 49,700, Nifty above 14,630; Auto, Metal outperforms; Bharti Airtel shines

Auto and metal stocks outperform while substantial gains were recorded in banking and oil stocks.

Jan 13, 2021 03:01 IST India Infoline News Service

The Indian markets continued its record high performance and Wednesday was no different. Both benchmarks Sensex and Nifty earmarked a new all-time high tracking positive global cues. Auto and metal stocks outperform while substantial gains were recorded in banking and oil stocks.

Ar around 09.22 am, Sensex was trading at 49,711.68 above 194.57 points or 0.39%. The index has touched an all-time high of 49776.29.

At the same time, Nifty 50 performs at 14,638.10 soaring by 74.65 points or 0.51%. The index has touched a fresh all-time high of 14,645.80.

On BSE, 22 scrips advanced and 8 scrips declined. While on NSE, 39 scrips advanced and 11 scrips declined.

Top gainers on Sensex were - Bharti Airtel (+5%) followed by ONGC (+3%), SBI (+2%), M&M (+1.7%) and ICICI Bank (+1.34%).

Major stocks like L&T, Tech Mahindra, NTPC, RIL, Power Grid and Bajaj Finserv also surged between 0.5-1%.

Top underperformers on Sensex were - Kotak Bank, Titan, Bajaj Auto, Dr Reddy's Lab and Asian Paint tumbled 0.4-1%.

Companies that are set to announce their December 2020 (Q3FY21) quarter result and will be in focus today are - Infosys, Wipro, 5paisa Capital, CESC and GTPL Hathway.

On sectoral indices basis - BSE Auto jumped by 215 points, BSE Metal climbed 188.63 points, BSE Bankex topped 147.25 points and BSE Oil & Gas soared 122 points.

Asian stocks zoomed after modest gains were recorded on Wall Street overnight as hopes for early Covid-19 vaccine rollout is expected to win the battle against the virus fuelled recovery hopes.

Japan's Nikkei 225 and Taiwan TSEC 50 Index zoomed by 220 points. South Korea's KOSPI was up 0.6%. While Australia ASX All Ordinaries, Shanghai SE Composite Index and Hang Seng traded flat.

Notably, tight supply expectations drove oil prices to a one-year high.

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