Indian equity indices conquered new peaks on Tuesday, with the Nifty closing above the 13,000-level for the first time, as banking, FMCG and auto stocks saw heavy buying amid optimism over Covid-19 vaccine progress and unabated foreign capital inflows.
A strengthening rupee further boosted investor confidence, traders said. After scaling a lifetime intra-day high of 44,601.63, the 30-share BSE Sensex ended 445.87 points or 1.01 per cent higher at a record 44,523.02.
Similarly, the broader NSE Nifty climbed 128.70 points or 1 per cent to close at 13,055.15.
Axis Bank was the top gainer in the Sensex pack, spurting 4.02 per cent, followed by M&M, HDFC Bank, ITC, SBI, ICICI Bank, Maruti, Kotak Bank and Sun Pharma.
On the other hand, HDFC, Titan, Nestle India, Bharti Airtel, ONGC and Infosys were among the main laggards, shedding up to 1.47 per cent.
Global markets maintained their upward trajectory as investors wagered on swift rollout of COVID-19 vaccines following encouraging trials data from at least three companies.
“Market is inching higher with more confidence that COVID-19 vaccine will be available in India soon. It can provide an advantage to India compared to the rest of the world.