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Market Update: SENSEX Hits New High
The BSE SENSEX gained 278 points or 0.5% to a fresh record high of 52,577 in early trade on Friday and is on track to gain 0.9% for the week, after Wall Street closed higher overnight, with the S&P 500 closing at an all-time high, on hopes that the inflation pressures in the US are likely to be temporary. Meantime, the weekly claims report suggested the labor market recovery continued, while the yield on 10-year bonds was at a 3-month low of less than 1.5% Thursday. On the pandemic front, India today saw 91,702 new COVID-19 cases over the past 24 hours, taking the total tally to 29.3 million. Meanwhile, the southern state of Karnataka announced on Thursday it would ease some restrictions in a phased manner. India is close to agreeing to grant foreign COVID-19 vaccine makers such as Pfizer protection against legal liability so that it can use its shots in an immunization campaign. Power Grid Co and Reliance Industries Ltd jumped 2.1% and 1.8%, each. [/s2If]
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