Sensex ends 195 points higher; Nifty inches closer to 13,000 for the second time

Equity benchmark Sensex jumped 195 points on Monday, tracking gains in index-heavyweights Reliance Industries, Infosys and TCS amid largely positive cues from global markets and sustained foreign fund inflows. After touching a record intra-day high of 44,271.15, the 30-share BSE index ended 194.90 points or 0.44 per cent higher at 44,077.15.

Similarly, the broader NSE Nifty rose 67.40 points or 0.52 per cent to close at 12,926.45.

ONGC was the top gainer in the Sensex pack, surging around 7 per cent, followed by IndusInd Bank, Infosys, Tech Mahindra, Reliance Industries, HCL Tech and TCS.

On the other hand, HDFC, ICICI Bank, Axis Bank, SBI and M&M were among the laggards.

Indian markets traded on a positive note following positive global cues amid COVID-19 vaccine hopes as more pharma companies announced successful initial trials for their vaccine candidates, said Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi.

"During the afternoon session the markets pared initial gains and traded marginally positive briefly and scaled back strongly led by buying in IT, pharma and auto shares while banks and financial stocks pared losses for the day," he added.

Earlier in the day, the COVID-19 vaccine candidate being developed by Oxford University showed crucial Phase 3 interim results.

The ChAdOx1 nCoV-2019, being produced in collaboration with AstraZeneca, was found to be 70.4 per cent effective when combining data from two dosing regimens.

Elsewhere in Asia, bourses in Shanghai, Hong Kong and Seoul ended with significant gains.

Stock exchanges in Europe were also trading on a positive note.

Meanwhile, Brent crude futures, the global oil benchmark, rose 1.64 per cent to USD 45.81 per barrel.

According to traders, persistent foreign fund inflows too buoyed domestic investor sentiment.

Foreign institutional investors remained net buyers in the capital market as they purchased shares worth Rs 3,860.78 crore on Friday, according to provisional exchange data.

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