Sensex Gains Around 200 Points, Nifty Above 14,600

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The domestic stock markets have opened at fresh life-time highs, continuing with the momentum witnessed in the past 12 trading sessions, as prospects of an eventual victory against coronavirus continued to shore up recovery hopes.  At 9:18 am, the Sensex was at 49,697.18, higher by 190.10 points, after opening the day at 49,7653.93, and the Nifty was at 16,425.15, up 65.55 points or 0.46 per cent.

Markets were mixed across Asia, with Japan’s Nikkei 225 up 0.11 per cent, Australia’s S&P/ASX 200 down 0.1 per cent and South Korea’s KOSPI 0.64 per cent higher.

Overnight, the Dow Jones Industrial Average rose 60 points, or 0.19 per cent, to 31,068.69, the S&P 500 gained 1.58 points, or 0.04 per cent, to 3,801.19 and Nasdaq Composite added 36.00 points, or 0.28 per cent, to 13,072.43.

On the economy front, retail inflation fell sharply to 4.59 per cent in December mainly due to declining food prices, according to the data released by the Ministry of Statistics and Programme Implementation post market hours on Tuesday. The retail inflation based on the Consumer Price Index (CPI) was 6.93 per cent in November. Food inflation declined to 3.41 per cent in December in 2020, compared with 9.5 per cent in the previous month.

Meanwhile, the Index of Industrial Production (IIP) contracted 1.9 per cent in November 2020. The factory output in the country had grown at 3.6 per cent in October.

Infosys, Wipro and CESC will be among the major companies to announce their numbers during the day.