Indices Hit New High On Positive Global Cues; Sensex Hits 52,000 For The First Time

After closing little changed in previous session, Indices opened the gain on a strong note as indicated by gains on the SGX Nifty. Nifty at open was up by 0.79% at 15,283 , while Sensex gained over 424 points to scale to 52,000 levels for the first time.

Bank Nifty up by over 1 percent, while the broader markets too performed well. The macros that came in on Friday with IIP improving by 1 percent and CPI inflation coming in at 4 percent will also give direction to the markets.

Today, an IPO issue by health and wellness company will open for public subscription to aggregate Rs. 100 crore.

Vodafone Idea shares will be in focus after the telcom reported its results on Friday with net loss for the quarter coming in at Rs. 4532 crore. Also the firm plans to mop up a total of Rs. 25000 crore.

Indiabulls Housing Finance for the just ended quarter reported higher profit at Rs. 296 crore.

Meanwhile, Asian indices clocked fresh high buoyed by hopes of firm recovery as the Covid 19 vaccination drive has been successful world over. At the time of writing this copy, Nikkei gained 1.2 percent while Australian index also traded higher. US Markets will be shut today on account of Presidents Day Holiday.

Oil prices have hit their record highs since January 2020, scaling past levels of $63 per barrel levels.

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