Economy

Equity indices rise; Sensex, Nifty hit new highs

Equity indices rise; Sensex, Nifty hit new highs”

The Sensex ended 10 points higher at 46,263 while the Nifty rose 10 points to settle at 13,568. YES Bank stock is trading higher than 20, 50 and 100-day moving averages but lower than 5, 200-day moving averages. In today's session, Sensex hit an all-time high of 46,592 and Nifty too logged a lifetime high of 13,666.

"The Index once again went to test the lower end of the current range of 13400-13700 and bounced back to close above 13500".

Other Asian markets were mostly higher today revived hopes for more aid for the U.S. economy broke a four-day losing streak on Wall Street. "Upside (for the markets) from here seems limited and there could be some correction. but that correction would be taken as a buying opportunity and should be used well to enter some good quality stocks", Gaurav Garg, head of research at CapitalVia Global Research in Indore told news agency Reuters.

More news: GCHQ looking into whether Russian hackers stole United Kingdom government secrets

On the other hand, NTPC, HDFC Bank, HCL Tech, UltraTech Cement, Maruti and Bajaj Auto were among the gainers. The Reserve Bank of India (RBI) said on Tuesday in a working paper that banks need strengthening for the full impact of monetary policy. Optimism over the economic outlook is rising as there are hopes that the USA could soon approve the Moderna COVID-19 vaccine for emergency use.

It has risen over 27% in just a month, following the news of the bank's inclusion in the MSCI India Index.

Foreign portfolio investors (FPIs) were net buyers in the capital market as they purchased shares worth Rs 2,264.38 crore on a net basis on Monday, according to provisional exchange data.



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