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Nifty Settles At 14199 levels Led By Gains In Heavyweight

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After opening subdued on weak global cues due to rising corona cases globally and fresh lockdown, indices again rallied to hit a fresh high and recovered almost 400 points from day's low. The high on the markets have been also fuelled by Finance ministry's comments on Indian economy which said sustained improvement in high frequency indicators and V-shaped recovery along with easing of lockdown restrictions distinguish Indian economy as one riding against the Covid-wave.

Nifty Settles At 14199 levels Led By Gains In Heavyweight
 

The stocks that helped the indices gain momentum include bluechips such as HDFC, TCS, Axis Bank. Bajaj Finance on the other hand dipped post its Q3 business update for the FY2021.

Update by HDFC pins hopes on recovery and there shall be likely re-rating of HFCs as per analysts.

On record volumes, shares of Indus Towers earlier known as Bharti Infratel rallied 10% to a new high of Rs. 264.8 per share.

TCS on back to back gains for three consecutive days, nears m-cap of Rs. 12 trillion.

IT pack was leading with gains of 2.72% towards the end of the session and Wipro also rallied 3% and hit above its buyback price of Rs. 400 per share.

Meanwhile, European indices traded mixed with both German DAX and French CAC down, while London's FTSE was up 0.56 percent. This is even as the UK government doled out fresh 4.6 billion pound as new lockdown grants.

GoodReturns.in

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