Sensex, Nifty Scale New Highs
Indian shares hit record highs on Monday after the government approved emergency use of two Covid-19 vaccines - one developed by AstraZeneca and Oxford University and another by Bharat Biotech.
Global cues also remained supportive as the new EU/UK trade deal regulations came into force over the weekend and the U.K. began the Oxford/AstraZeneca vaccine rollout, making another step in the global battle against the pandemic.
With auto sales showing signs of revival and GST collections hitting a record high in December, investors ignored survey results from IHS Markit showing that India's manufacturing expansion unexpectedly slowed in December.
The benchmark S&P BSE Sensex surged 307.82 points, or 0.64 percent, to 48,176.80 - ending above the 48,000 mark for the 1st time ever.
Similarly, the broader NSE Nifty index ended up 114.40 points, or 0.82 percent, at 14,132.90 - closing above 14,100 for the first time.
Metal stocks topped the list of gainers as commodities rallied on the back of a weaker dollar in overseas markets. Tata Steel soared 8.4 percent while Hindalco surged 6.9 percent.
TCS, ONGC and Eicher Motors all rose about 4 percent while Adani Ports, Bajaj Finance, Kotak Mahindra Bank and Hero MotoCorp fell over 1 percent each.
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