Sensex regains 67,000-mark; Nifty at all-time high: Successful G20 summit brings cheers to investors

The Indian stock market witnessed a historic rally on Monday, as the benchmark indices Sensex and Nifty soared to new highs, driven by strong domestic buying and positive global cues. The Sensex zoomed 528 points to close at 67,023.98, while the Nifty surged 153.45 points to end at 20,097.50, both surpassing their previous record closing levels.

The market sentiment was boosted by the successful outcome of the G20 summit held in Rome over the weekend, where India played a key role in shaping the global agenda on issues such as climate change, pandemic response, infrastructure development, and trade. Prime Minister Narendra Modi announced several initiatives at the summit, such as the launch of the Global Biofuel Alliance, the proposal of a rail-port economic corridor connecting India, the Middle East, and Europe, and the invitation to G20 countries to join the International Solar Alliance.

The market also cheered the strong performance of some of the heavyweight stocks, such as Reliance Industries and HDFC Bank, which contributed significantly to the index gains. Reliance Industries rose 2.6% to Rs 2,635.65 after announcing a strategic partnership with Saudi Aramco to invest $25 billion in its oil-to-chemicals business. HDFC Bank gained 2.4% to Rs 1,614.35 after reporting a 17.5% growth in its advances and a 14.4% growth in its deposits for the quarter ended September 30.

The broader market also participated in the rally, as the BSE Midcap and Smallcap indices rose 1.3% and 1.6%, respectively. All the sectoral indices on the BSE ended in the green, with metal, realty, bankex, and auto leading the pack. The market breadth was positive, as 2,092 stocks advanced, while 1,056 stocks declined on the BSE.

The rally in the Indian market was in sync with the global markets, which were buoyed by the optimism over the economic recovery and easing of inflationary pressures. The US markets closed at record highs on Friday after the US Federal Reserve signaled that it would start tapering its bond-buying program this month but maintain its near-zero interest rate policy until late next year. The Asian markets also traded higher on Monday, following the positive cues from Wall Street and Europe.

The Indian market is expected to maintain its upward momentum in the near term, as investors are optimistic about the festive season demand, corporate earnings growth, vaccination drive, and policy support from the government and the central bank. However, some analysts also caution that the market may face some volatility and profit-booking at higher levels, as it is trading at stretched valuations and faces some risks such as rising crude oil prices, geopolitical tensions, and Covid-19 variants.

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(1) Sensex regains 67,000-mark; Nifty at all-time high: Successful G20 summit brings cheers to investors. https://www.msn.com/en-in/news/other/sensex-regains-67-000-mark-nifty-at-all-time-high-successful-g20-summit-brings-cheers-to-investors/ar-AA1gy6ix.

(2) Sensex regains 67,000-mark; Nifty at all-time high: Successful G20 .... https://timesofindia.indiatimes.com/business/india-business/sensex-nifty-indian-markets-stock-markets-g20-summit-india-stocks/articleshow/103577210.cms.

(3) Sensex regains 67,000-mark; Nifty at all-time high: Successful G20 .... https://m.timesofindia.com/business/india-business/sensex-nifty-indian-markets-stock-markets-g20-summit-india-stocks/articleshow/103577210.cms.

(4) NIFTY hits highest ever 20,000 and Sensex Reclaims 67,000 Level; Strong .... https://tradebrains.in/features/nifty-hits-highest-ever-20000-and-sensex-reclaims-67000-level-strong-domestic-investors-drive-inflow/.

(5) Stock market | Nifty scales 20,000 mount, Sensex regains 67,000 level .... https://www.telegraphindia.com/business/nifty-scales-20000-mount-sensex-regains-67000-level-as-stocks-extend-rally-to-seventh-day/cid/1965435.