Mumbai, Dec 28:
Indian shares hit a record high on Monday as Reliance Industries and financial stocks gained, while investor sentiment remained upbeat globally due to U.S. President Donald Trump approving a $2.3 trillion stimulus package he had been threatening to veto.
The NSE Nifty 50 index was up 0.7% at 13,844.75 by 0347 GMT, while the S&P BSE Sensex was 0.71% higher at 47,307.78. Both indexes hit record highs.
Broader Asian shares rose at the start of the final trading week of 2020 as a source said Donald Trump signed into law a pandemic aid and spending package, averting a partial federal government shutdown in the United States.
In Mumbai, all the main Nifty sub-indexes were up in early trade.
HDFC Bank and Reliance Industries were the top two boosts to the Nifty 50.
The Nifty PSU banking index, which tracks India’s state-owned lenders, rose more than 1% led by a 2% rise in Central Bank of India.
Shares of India’s most valuable company, Reliance Industries, gained 1.1%. Reliance said it would buy out IMG Worldwide LLC from its sports management joint venture for about $7 million.
On the last trading day, Thursday, of the previous week, the 30-share Sensex had surged 529.36 points or 1.14 per cent to close at 46,973.54. The broader NSE Nifty had zoomed 148.15 points or 1.09 per cent to 13,749.25.
Markets were closed on Friday on account of Christmas.
Elsewhere in Asia, bourses in Mainland China, Japan, South Korea, Hong Kong and other key markets were trading on positive note on Monday.
Meanwhile, the global oil benchmark Brent crude futures slipped 0.31 per cent to USD 51.14 per barrel.
Foreign portfolio investors (FPIs) purchased shares worth a net Rs 1,225.69 crore on Thursday, as per exchange data.