New Delhi | Jagran Business Desk: The BSE Sensex on Friday jumped more than 350 points to open at a lifetime high of 60,244.65 in the opening session with an improvement in the economic activity of the country, thanks to the decline in COVID-19 cases and rising vaccination pace. Similarly, the Nifty jumped by 100 points to open at a record high of 17,923.35.
The top gainers in the Sensex pack were Infosys, Tata Consultancy Services, Tech Mahindra, HCL Tech, Larsen & Toubro, HDFC Bank and Asian Paints. On the other hand, Housing Development Finance Corporation, Tata Steel, Bajaj Finance, Mahindra & Mahindra and Hindustan Unilever Ltd were dealing in red.
Analysts and market experts have attributed this to diminishing fears of a possible third wave of the COVID-19 pandemic and the consistent rise in vaccination across the country. They expect that the momentum will continue as COVID-19 cases continue to fall across India.
However, several experts believe that the market won't be able to sustain as investors are currently investing more in India due to the "poor performance of the Shanghai Composite due to regulatory crackdown and the China Plus One policy".
"Sensex has hit the 60,000-mark today. Reaching this milestone is quite an achievement in these COVID times and a shot in the arm for bulls that are in total control of this market," news agency PTI quoted VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, as saying.
Sensex and Nifty, meanwhile, have been reaching new highs in India in the past few days which several experts have attributed to favourable policies of the Reserve Bank of India (RBI). In the previous session, the Sensex had ended at 59,885.36 while the Nifty closed at 17,822.95.
Elsewhere in Asia, bourses in Shanghai, Seoul and Hong Kong were trading with losses in mid-session deals, while Tokyo was positive. US equities ended with gains in the overnight session. Meanwhile, international oil benchmark Brent crude rose 0.09 per cent to USD 77.32 per barrel.
Posted By: Aalok Sensharma