Sensex jumps 380 points to close above 47,000-level & Nifty 50 ends at 13,873.20

Rising for the third straight session, benchmark domestic indices closed at fresh record highs today amid positive global cues on Monday, December 28, 2020. The Sensex jumped 380.21 points or 0.81 per cent to close above the 47,000-level for the first time at 47,354. The Nifty gained 123.95 points or 0.9 per cent to settle at a fresh record high of 13,873.20. Nifty Bank also went up 478.75 points or 1.57 per cent to close higher at 30,880.95.

The broader market at the BSE also rose out-performing the Sensex. The BSE Small-Cap index advanced 1.5 per cent and the Mid-Cap index rose 0.8 per cent.

The market breadth was strong. On the BSE, 2027 shares rose and 991 shares fell. In the Nifty 50 index, 41 stocks advanced and 9 declined. The top five gainers on Nifty 50 block were JSW Steel (up 5.83 per cent), Tata Motors (up 5.60 per cent), State Bank of India (up 3.26 per cent), Titan (up 3.22 per cent) and HDFC Life (up 3.20 per cent). The top five losers were Hindustan Unilever (down 0.47 per cent), Sun Pharmaceuticals (down 0.47 per cent), Cipla (down 0.44 per cent), Shree Cement (down 0.34 per cent) and Britannia (down 0.33 per cent).

COVID-19 update

Total COVID-19 confirmed cases worldwide were at 80,762,012 with 1,764,317 deaths. India reported 277,301 active cases of COVID-19 infection and 147,901 deaths while 9,782,669 patients have been discharged, data showed.

US President Donald Trump signs Coronavirus relief package bill

US President Donald Trump averted a government shutdown late on Sunday and extended unemployment benefits to millions of Americans. Mr Trump signed a $2.3 trillion measure that includes $900 billion for Coronavirus relief and $1.4 trillion for government funding through next September. The signing came days after Mr Trump suggested he would veto the legislation, demanding $2,000 direct payments to Americans, instead of $600.

Centre for Economics and Business Research

The Chinese economy is set to overtake the US faster than previously anticipated after weathering the Coronavirus pandemic better than the West, according to the Centre for Economics and Business Research (CEBR). The world's biggest and second-biggest economies are on course to trade places in dollar terms in 2028, five years earlier than expected a year ago, it said on Saturday.