Indices Log Fresh High On Strong Global Cues; Nifty Tops 13865 Levels

On strong global cues, Indian indices started on a positive note on the first day of the trading week. Nifty at opening was up 0.69% or 96 points at 13843 , while Sensex gained 0.65% or 307 points at 47280.57. Broader markets outperformed headline indices with gains of up to 0.9% on Nifty Midcap 100.

Indices Log Fresh High On Strong Global Cues; Nifty Tops 13865 Levels

The US President Donald Trump signed a $2.3 trillion pandemic stimulus aid after earlier threatening to block it. Also, the historic trade deal between the UK and the EU is also expected to boost investor sentiment.

Top gainers in early trade on Nifty are Tata Motors, Coal India, ONGC, GAIL and IOC, while amid record highs TCS lost up to 0.25%.

NIIT shares shall be in focus after its board approved buyback of 98.75 lakh equity shares of face value of Rs 2 each. The buyback price of Rs 240 per share is at a 20 per cent premium to Thursday's closing price. The stock gained over 4% and hit its fresh 52-week high.

BEML shares also extended previous gains after the company's strategic sale shall be finalized today by the core group of secretaries on divestment.

On Thursday, foreign investors were net buyers in Indian market for Rs. 1225.69 crore.

Meanwhile at the time of writing this report, Asian indices traded mixed with Hang Seng down 0.05% while Japanese Nikkei and Singapore Straits Times up by up to 0.62%.

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