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Sensex closes above 52K; banking stocks soar

India’s benchmark equity indices rose for the third consecutive session on Monday with S&P BSE Sensex closing above the 52,000-mark for the first time.

Sensex

Sentinel Digital DeskBy : Sentinel Digital Desk

  |  16 Feb 2021 5:40 AM GMT

MUMBAI: India's benchmark equity indices rose for the third consecutive session on Monday with S&P BSE Sensex closing above the 52,000-mark for the first time.

Accordingly, the NSE Nifty50 closed at over 15,300, another record high.

The rally was powered by banking and financial services stocks, which rose on the back of lower retail inflation numbers and RBI's open market operation.

Besides, healthy foreign fun inflows too buoyed the market.

On Monday, FIIs were net buyers to the tune of Rs 1,234.15 crore in BSE, NSE and MSEI in the capital market segment.

Globally, shares rose for the 11th consecutive day to hit a fresh peak while riding on optimism about the rollout of more Covid-19 vaccines and new fiscal aid from Washington, while tensions in the Middle East drove oil to a 13-month high.

On the domestic side, strong corporate earnings have ignited hopes of faster economic recovery while buoyant global markets also aided risk sentiment. (IANS)

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