Sensex, Nifty End Higher, Media stock rise

Dec 07 2020 04:19 PM
Sensex, Nifty End Higher, Media stock rise

Indian stock benchmark indices closed at another record high led by positive global cues. The  BSE Sensex ended 344 higher at 45,426 while the NSE Nifty 50 index ended above the mark of 13,300 to end at 13,355, up 96 points  Both Sensex and Nifty registered another record high in today's session. Stocks contributing to the maximum gains on the indices are HDFC, ICICI Bank and HUL.

Today's session belonged to FMCG, Pharma, Media and PSU Banking stocks. The Nifty Media index was the top sectoral gainer in today's session, ending with gains of 2.8 percent. The index gained for the seventh consecutive day to close at the highest level in over 3 months. The PSU Bank index ended 2.1percent higher at the highest level in 9 months.

The Nifty Pharma index continued to edge higher, gaining another 1.6 percent in today's session.. The Nifty FMCG index too ended 1.6percent higher, at the highest level since August 2018. The index ended higher for the fourth straight day. PSU Bank rallied a great deal in trade today with gains of more than 2 percent, with maximum gains from SBI, Canara Bank, Bank of Baroda, Central Bank.

Broader markets outperformed the benchmarks in today's session. The Nifty Midcap index gained 1.1percent to end at the highest level since February 2018. The index gained for the seventh day in a row. The Smallcap index too ended 1.2percent higher at the highest level since September 2018.

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