Indices Open At Fresh Record Highs; Nifty Nears 14000

In line with the gains on the SGX Nifty, Indian indices amid strong global cues opened at a record high for yet another session. At 9:19 am, Sensex was up 0.58% or 273 points at 47615, while Nifty gained 74 points or 0.53% to 13951.

Top gainers in early trade include stocks like IndusInd Bank, Coal India, SBI, GAIL and HDFC Life while laggards have been Asian Paints, Larsen and Power Grid.

Wipro shares were 0.5% up as the company has opened its buyback offer today which will close on January 11, 2021. In November, shareholders had approved the buyback plan for the purchase of up to 23.75 crore equity shares at Rs 400 per share.

ICICI Bank traded firm with gains of over 1% after the country's leading state-run insurer LIC pared 2 per cent stake in the lender via open market transactions between November 27 - December 24, 2020.

Meanwhile, at the time of writing this copy, Asian indices traded firm with Japan's Nikkei up 1.63%, Singapore's Straits Times up 0.15% and Hang Seng up 0.91%.

In the oil market, there was seen a surge in the price of the commodity today on expectations that oil demand would strengthen as the US might enlarge its pandemic aid and on the other hand the historic Brexit deal would stabilize trade between Europe and the UK.

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