Sensex slips over 100 points in early trade

Sectoral gainers and losers of the day on the National Stock Exchange

Sectoral gainers and losers of the day on the National Stock Exchange

Similarly, the broader NSE Nifty advanced 78.70 points or 0.54 per cent to a fresh closing peak of 14,563.45.

On the Sensex, Bharti Airtel, Reliance Industries and State Bank of India were the top gainers, and the the major losers were Asian Paints, Titan Company and Kotak Mahindra Bank. During the day, the 50-share benchmark index had hit a lifetime high of 14,498.20. It was followed by Nifty Auto index that rose 2.61 per cent driven by Tata Motors, Ashok Leyland, Bajaj Auto and Maruti. The index closed at 49,269.32, gaining by 486.81 points or by 1 per cent from its previous close while Nifty rose by 137.50 points or by 0.96 per cent to settle at 14,484.75 levels. At the open, Nifty breaches levels of 14428, while Sensex is above 49000 mark for the first time at 49088.

Amongst sectoral indices on BSE, the IT index was the biggest gainer, up by 3.63 per cent while the Energy index was the biggest loser, down by 1.28 per cent. Also given the firm's competence and unmatched capabilities given the huge technology adoption is given a buy rating by brokerages with a target price of Rs. 3355 per share. Hopes of a new USA stimulus to be unveiled this week created an upbeat movement in Wall Street while profit booking is seen in the European markets.

Optimism over early roll out of vaccine in India and lesser number of Covid 19 cases as well as expectations of improved earnings, lifted market indices to new highs on Monday.

Meanwhile, Asian shares took a breather while Treasury yields were at 10-month highs as "trillions" in new USA fiscal stimulus plans were set to be unveiled this week.

Worldwide coronavirus cases surpassed 90 million on Monday, according to Reuters tally.

Stock exchanges in Europe were trading on a negative note in early deals. Germany's DAX lost 0.75 per cent, Britain's FTSE 100, Italy's FTSE MIB, and France's CAC 40 fell about half a percent each, and Spain's IBEX fell 0.1 per cent.

MSCI's broadest index of Asia-Pacific shares outside Japan dipped 0.2 per cent, having surged 5 per cent last week to record highs.

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