Sensex crosses 43,000 for first time, Nifty nears 12,600 on COVID-19 vaccine hopes

Sensex crossed 43,000 mark for the first time today buoyed by global equities on reports of development of a COVID-19 vaccine that raised hopes of a global economic recovery. Pharma firm Pfizer said vaccine developed with partner BioNTech SE proved more than 90% effective in the first 94 subjects who were infected by the new coronavirus and developed at least one symptom.

The 30-share index rose to 43,118 in early trade today gaining 521 points against earlier close of 42,597.  Nifty rose  137 points to 12,598 against previous close of 12,461.

Sensex and Nifty have risen for the seventh straight session on prospects of Joe Biden defeating President Donald Trump in US poll.  Strong Q2 earnings at home also led to rise in benchmark indices.

On Monday, Sensex hit all-time high of 42,645 against previous close of 41,893. Nifty too logged a record high of 12,474 against previous close of 12,263. Indices hit fresh highs as Democrat Joe Biden's win in the US presidential election led to a rise in global markets.

Top gainers on Sensex were Bajaj Finance, IndusInd Bank, L&T and Bajaj Finserv rising up to 7% in afternoon trade today.  

Reacting to vaccine statement by Pfizer, share of Pfizer gained 19.46% to touch record high of Rs 5875 against previous close of Rs 4917 on BSE. The stock has gained after 3 days of consecutive fall.

Pfizer share hits all-time high after firm says its COVID-19 vaccine over 90% effective

Of 30 Sensex stocks, 18 components were trading in green against 12 stocks trading in red. Top losers on Sensex were Tech Mahindra, HCL Tech, Infosy and Nestle, falling up to 5%.

However, mid cap and small cap indices on BSE were trading 31 points and 36 points lower at 15,528 and 15,268, respectively.

Share Market News Live: Sensex breaches 43,000 for first time, Nifty at 12,598, SBI, ICICI Bank top gainers

Banking stocks led the gains with BSE bankex rising over 929 points to 32,528 against previous close of 31,598.

Other sectoral gainers were capital goods and oil and gas whose indices rose 387 points and 191 points, respectively on BSE.

On the other hand,  IT stocks capped gains with BSE IT index witnessing profit booking.  The index fell 761 points to 21,259. Other losers were BSE healthcare and BSE FMCG index falling 601 points and 114 points, respectively.

Market breadth was marginally negative with 1178 stocks rising against 1289 stocks falling on BSE. 146 stocks were unchanged.

Global markets

Benchmarks in Shanghai, Tokyo, Hong Kong and Sydney rose while Seoul fell less than 0.1%. On Wall Street, the benchmark S&P 500 index closed 1.2% higher on Monday after Pfizer Inc. said early data on Pfizer vaccine under development suggest it might be it might be 90% effective at preventing COVID-19, though that doesn't mean its release is imminent.

The Shanghai Composite Index gained 0.1% to 3,377.64 and the Nikkei 225 in Tokyo rose 0.3% to 24,903.44. The Hang Seng in Hong Kong advanced 0.7% to 25,202,58.