Sensex gains 447 points, ends at 45,080 as RBI revises FY21 GDP growth outlook
The bulls continued to be in the driver’s seat on Friday as the benchmark indices scaled fresh all-time highs after the Reserve Bank of India (RBI) revised upwards the economic growth projections for the fiscal year 2020-21 (FY21) and assured ample liquidity for the stressed sectors.
The S&P BSE Sensex hit a new milestone today as the index breached the crucial 45,000 level for the first time ever to end at 45,080 levels, up 447 points, or 1 per cent. On similar lines, NSE’s Nifty ended at 13,259, up 125 points, or 0.95 per cent. Volatility index, India VIX, dropped over 5 per cent to 18 levels.
On a weekly basis, Nifty gained 2.2 per cent while Sensex added 2 per cent.
In the broader market, the S&P BSE MidCap index ended 0.44 per cent higher at 17,389 levels while the S&P BSE SmallCap index settled at 17,317, up 72 points, or 0.42 per cent.
On the NSE, all sectoral indices ended in the green with Nifty Bank surging the most – up 2 per cent or 604 points to 30,052 levels.
Shares of Sudarshan Chemicals gained 5 per cent higher to Rs 512 on the National Stock Exchange (NSE) in intra-day trade on Friday, thereby rising 8 per cent in the past two trading days after Fidelity Pacific Fund bought nearly one per cent stake in the company via open market. On Thursday, December 3, Fidelity Pacific Fund has bought 568,924 equity shares, representing 0.82 per cent, at Rs 463 per share on the NSE, the bulk deal data shows.
Shares of Panacea Biotec dipped 8 per cent to Rs 214 on the National Stock Exchange (NSE) on Friday, falling 13 per cent in the past two trading days, after Serum Institute of India sold its stake in the company via open market. The stock slipped 19 per cent from its 52-week high level of Rs 265 touched in intra-day trade on December 3, 2020.
Shares of aviation companies were flying high at the bourses on Friday, rallying up to 13 per cent on the BSE, after the government lifted cap on domestic flights to 80 per cent of pre-Covid levels. Following the news, SpiceJet soared 13 per cent to Rs 91.85 on the back of heavy volumes. A combined 16.7 million equity shares had changed hands on the counter on the NSE and BSE, till 09:50 am.
Shares of UltraTech Cement surged 4 per cent to hit a fresh record high in the early morning trade on the BSE on Friday. The stock crossed Rs 5,000 mark to scale the peak of Rs 5,104 after the company said its board has approved increasing the firm’s capacity by 12.8 mtpa (MT), with a mix of brown field and green field expansion at a capex of Rs 5,477 crore. The company surpassed its previous high of Rs 4,998, touched on December 2, 2020.
Here are some picks from the week gone by.
Company: TVS Motor CMP: 496.10 Mastermind
