Indices Gain For Sixth Straight Day; Sensex Tops 47000 Level For The First Time

Indian markets are on their record breaking spree for yet another trading session with Sensex hitting 47000 level for the first time. At 9:17am, Sensex was up 36.41 points or 0.08% at 46926.75, and the Nifty was up 12.30 points or 0.09% at 13753. Bank Nifty was down in trade by 0.42% while broader markets also were up.

Indices Gain For Sixth Straight Day; Sensex Tops 47000 Level For The First Time

Early gainers in trade today have been Infosys, HCL Tech, Tech Mahindra, Wipro and Hindalco while top losers include HDFC twins, M&M, IndusInd Bank and Tata Motors.

TCS shares were trading higher by 1% as the company's Rs. 16000 crore buyback offer opens today. The stock has hit its 52-week high price of Rs. 2894 today.

Zee Entertainment Enterprises was only marginally up after its board gave nod to the acquisition of film production & distribution business as a going concern, on a slump sale basis from Zee Studio. Also, at the same time approved the transfer of the digital publishing biz division to Rapidcube Tecbnologies.

Meanwhile, at the time of writing this report, Asian indices were trading negative with Nikkei down by as much as 0.13 percent and Hong Kong's Hang Seng down 0.72 percent.

Oil prices also remained near its 9-month high level hit in the previous session as rising coronavirus cases weighed on its demand outlook.

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