Markets begin 2021 with a bang; Nifty above 14k

Mumbai: The BSE Sensex surged to record highs while the NSE Nifty closed above the 14,000-mark for the first time on Friday as markets continued their record run in the new year amid robust buying in IT, auto and FMCG stocks.

Extending its record-setting streak for the fifth day, the 30-share BSE Sensex rose by 117.65 points or 0.25 per cent to close at a fresh lifetime high of 47,868.98.

This is the eighth consecutive day of gains for the barometer and it has climbed by around 5 per cent since December 22. The broader Nifty closed at an all-time high of 14,018.50, showing gains of 36.75 points or 0.26 per cent over its previous close. Intra-day, the Nifty touched a record high of 14,049.85 while Sensex scaled a new peak of 47,980.36.

Among major Sensex gainers, ITC rose the most by 2.32 per cent, followed by TCS, M&M, SBI and Bharti Airtel. TCS rose by 2.02 per cent after the IT major said its board will meet on January 8 to approve financial results and a proposal for declaring the third interim dividend to shareholders.

Among other IT stocks, Tech Mahindra rose 0.23 per cent, Infosys by 0.36 per cent and HCL Tech by 0.43 per cent. Dr Reddy's, L&T, Sun Pharma, Axis Bank, IndusInd Bank, Nestle and Ultratech Cement also advanced. Auto stocks rose on better sales numbers for December month.

Market leader Maruti, which posted a 20 per cent increase in vehicle sales in December, rose by 0.53 per cent while Bajaj Auto closed up by 1.03 per cent.