Financial and IT Send Nifty and BSE Sensex to Record Highs

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Financial and IT Send Nifty and BSE Sensex to Record Highs
Credit: © Reuters.

By Aditya Raghunath

Investing.com -- Nifty and BSE Sensex set new records at the close today as Indian markets ended higher but it was not a democratic day today. With the exception of financials and IT, all other indices ended in the red.

Nifty gained 0.43% to close over 13,900 today and Sensex gained 0.66% to cross 47,600. Bank Nifty gained 1.43% with IndusInd Bank (NS: INBK ) closing 7.72% higher, and Punjab National Bank (NS: PNBK ) and Axis Bank (NS: AXBK ) both gaining over 2% each. In the IT sectoral index, Tech Mahindra (NS: TEML ) closed 2.19% higher while Info Edge India Ltd (NS: INED ) and HCL Tech (NS: HCLT ) gained over 1.5% each.

Hindalco Industries Ltd. (NS: HALC ) led the losses on the Nifty with a 2.08% drop followed by Nestle (NS: NEST ) at 1.76% and Coal India (NS: COAL ) at 1.67%.

Crude oil has crossed the $48 mark again today after dropping back a bit on Monday and is on trading at $48.3.

What will impact Dow Jones and S&P 500?

The U.S. Senate is set to reconvene, a day after the House of Representatives approved a motion to raise the direct payments to households provided for by the $900 billion stimulus bill from $600 to $2,000.

The Senate so far hasn’t scheduled a vote on the issue, but Senator Bernie Sanders has threatened to filibuster a separate motion overriding President Trump’s veto of the recent defense spending bill unless a vote on higher stimulus checks is also timetabled.

U.S. stocks are set to open at new record highs, as thin volume amplifies the effect of news flow that is encouraging speculation on increased fiscal stimulus.

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