IT services stocks drove Indian markets to a record high in the first trading session of 2021, as continued foreign fund inflows and expectations of imminent COVID-19 vaccine roll-outs kept investors bullish. The blue-chip NSE Nifty 50 index rose 0.34% to 14,029.70 by 0515 GMT on Friday and the benchmark S&P BSE Sensex climbed 0.36% to 47,922.14. Both the indexes recovered more than 86% from March lows, boosted by liquidity support measures from global central banks and progress on the COVID-19 vaccine front. The Nifty IT index was up 0.95%, with heavyweight Tata Consultancy Services being the biggest boost to the Nifty 50. Among individual stocks, Mahindra and Mahindra rose 2.2% and was the top percentage gainer on the Nifty.

Source: dna January 01, 2021 07:52 UTC