Sensex surges to another lifetime high on vaccine hopes

November 10, 2020 16:10

Extending its winning streak for the seventh straight session, equity benchmark Sensex soared 680 points to scale another lifetime high on Tuesday, tracking a global market rally driven by Pfizer's Covid-19 vaccine trials data.

After touching its lifetime peak of 43,316.44 during the day, the 30-share BSE index ended 680.22 points or 1.60 per cent higher at 43,277.65. The broader NSE Nifty too touched a fresh intra-day high of 12,643.90. It ended at 12,631.10, up 170.05 points or 1.36 per cent.

Bajaj Finance was the top gainer in the Sensex pack, surging around 9 per cent, followed by IndusInd Bank, L&T, Bajaj Finserv, HDFC, SBI, ICICI Bank, HDFC Bank, ONGC and Axis Bank.

"Announcements by BioNTech and Pfizer about successful phase 3 trial of COVID-19 vaccine instilled confidence among investors and possibility of sustained economic recovery led sharp buying in beaten down stocks," said Arjun Yash Mahajan, Head Institutional Business at Reliance Securities. Favourable global markets and NDA's surprising lead in Bihar assembly elections also supported the rally, he added. -- PTI

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