Sensex up by 282 points

Daniel Fowler
November 25, 2020

Axis Bank was the top gainer in the Sensex pack, surging around 4 per cent, followed by M&M, HDFC Bank, ITC, SBI, ICICI Bank, Maruti, Kotak Bank and Sun Pharma.

Index heavyweight Reliance Industries climbed 2.72 per cent, accounting for most of the Sensex's gains, after the Competition Commission on Friday evening said it has approved the conglomerate's proposed acquisition of Future Group's retail assets.

On the other hand, HDFC, Titan, Nestle India, Bharti Airtel, ONGC and Infosys were among the main laggards, shedding up to 1.47 per cent.

AstraZeneca's COVID-19 vaccine could be around 90% effective without any serious side effects, it said on Monday, the latest in a string of upbeat vaccine trial results this month.

Meanwhile, optimism that the imminent availability of coronavirus vaccines could spur a faster economic recovery pushed world stocks higher on Monday. However, major financial stocks declined after new recommendations by the Reserve Bank of India (RBI).

The Mid Cap moved up by 0.90 pc and Small Cup by 0.93 pc. Nifty is poised to cross psychological 13,000 mark shortly.

Microsoft to allow employees to work from home permanently
As The Verge reports , employees will have the option to work remotely for less than 50 percent of their normal work week. In a bid to address it, the company launched the "virtual commute" to aid employees transition from work to home life.

Broader BSE midcap and smallcap indices jumped up to 1.37 per cent.

The sectoral indices that kept the market firm were Bankex, Auto, Realty, Finance and FMCG stocks.

On the currency front, the Indian rupee appreciated by 10 paise to close at 74.01 per U.S. dollar.

Stock exchanges in Europe were trading on a mixed note in early deals.

Foreign institutional investors remained net buyers in the capital market as they purchased shares worth ₹4,738.44 crore on November 23, according to provisional exchange data.

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