Sensex surges 308 points; Nifty settles at fresh record high of 15,436 – Times of India

NEW DELHI: Equity indices finished higher on Friday with the benchmark BSE sensex rising over 300 points as falling Covid-19 infection rates boosted investor sentiment.
After scaling an intra-day high of 51,529, the 30-share BSE index rose 308 points or 0.6 per cent to finish at 51,423.
The broader NSE Nifty settled 98 points or 0.64 per cent higher at fresh record closing of 15,436.
Top gainers in the sensex pack included Reliance, M&M, HDFC twin, IndusInd Bank and Kotak Bank with their shares rising as much as 5.85 per cent.
While Sun Pharma, Bajaj Finserv, Ultra Cemco, Dr Reddy, ICICI Bank and Bajaj Finance were the major losers falling up to 3.82 per cent.
On the NSE platform, sub-indices Nifty PSU Bank and Financial Services gained as much as 0.67 per cent.
According to experts, falling Covid-19 infection rates in the country boosted sentiment. Besides, investors also awaited the outcome of the 43rd GST Council meeting being headed by finance minister Nirmala Sitharaman.
Coronavirus live updates
India posted its lowest daily rise in Covid-19 cases in over a month with 1.86 lakh fresh cases. The daily positivity rate also dipped to 9 per cent.
“The best news for the economy and markets is coming from the Covid-19 data. This will certainly pave the way for the progressive removal of restrictions on economic activity,” VK Vijayakumar, chief investment strategist at Geojit Financial Services told news agency Reuters.
Meanwhile, foreign institutional investors (FIIs) were net sellers in the capital market as they offloaded shares worth Rs 660.90 crore on Thursday, as per provisional exchange data.
(With inputs from agencies)

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