The 50-share National Stock Exchange benchmark index – Nifty 50 index – gained for fifth day in a row to close at an all-time high as daily COVID-19 cases continue to fall. For most part of the day, the Indian equity benchmarks traded in a narrow band owing volatility due to monthly expiry of May futures and option contracts. However, late buying in banking shares led by State Bank of India, which also closed at record high, pulled the benchmarks towards day’s highest levels.
The Nifty ended 36 points higher at an all-time closing high of 15,338 and Sensex climbed 98 points to 51,115.
In May series, Nifty has advanced nearly 3 per cent and Sensex has gained 2.71 per cent.
Investors’ sentiment has improved in the recent days due to a steady decline in daily COVID-19 cases in the country. Earlier this week, the country reported its lowest daily rise of cases in more than a month.