Stock market ends five-day winning streak
At close, Sensex was down 609.28 points, or 0.82%, at 73,730.16. Meanwhile, Nifty opened higher at 22,620.40 and touched a low of 22,419.90 in intraday trades.
Positive global cues helped the domestic benchmarks to trade higher for the fourth consecutive day on Monday. The international markets ended with significant gains after the US President Donald Trump signed a much-awaited coronavirus relief and stimulus package into law.
The BSE benchmark Sensex settled up by 380.21 points or 0.81 per cent at its all-time closing high of 47,353.75. The index also scaled its fresh record intra-day peak of 47,406.72.
The NSE Nifty ended 123.95 points or 0.90 per cent up at new closing high of 13,873.20. It also touched its all-time intra-day high of 13,885.30.
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Of the Sensex constituents, 26 stocks settled with gains and 4 with losses. The winners were led by Titan, followed by SBI, L&T, IndusInd Bank, Ultratech Cement, HDFC Bank and Asian Paints.
While, HUL, Sun Pharma, Dr Reddy and Bajaj FinServ were the only laggards.
According to Gaurav Garg, Head of Research at CapitalVia Global Research, “The market is still on the positive sentiments due to the positive news on the Brexit deal and the roll-out of the vaccines is also keeping the market sentiments high and positive.”
“Another factor that adds to the positivity in the market was the $900 billion stimulus,” he added.
In the previous trading day on Thursday, the 30-share Sensex had surged 529.36 points or 1.14 per cent to close at 46,973.54. The broader NSE Nifty had zoomed 148.15 points or 1.09 per cent to 13,749.25.
Markets were closed on Friday on account of Christmas.
Elsewhere in Asia, bourses in Mainland China, Japan, South Korea, Hong Kong and other key markets ended with significant gains.
Investor sentiment globally was upbeat after the US cleared a USD 2.3 trillion pandemic aid and the European Union and the UK struck a Brexit trade deal last week.
Meanwhile, the global oil benchmark Brent crude futures rose 1.25 per cent to USD 51.94 per barrel.
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