Domestic benchmark indices closed with strong gains on Monday. The Sensex closed above 52,000 mark and the Nifty closed above 15,300 mark for the first time. Strength in banks and financial stocks boosted the indices while selling was witnessed in metal and IT shares.
As per the provisional closing data, the barometer index, the S&P BSE Sensex, surged 609.83 points or 1.18% at 52,154.76. The Nifty 50 index rallied 151.4 points or 1% at 15,314.90.
The BSE Sensex hit a new record high of 52,235.97 while the Nifty index touched 15,340.15 in late trade.
Domestic shares have rallied sharply since January 2021 following a range of positive developments, including a high-spending union budget, strong corporate earnings, robust foreign fund flows and progress on COVID-19 vaccinations.
Indias industrial production rose 1.04% in December, reversing the previous months contraction and regaining pre-Covid levels, while consumer inflation eased to a 16-month low - twin respite for the economy.
Synopsis
October IIP had grown at 3.6 per cent helped by festive demand and a sharp base effect.
CPI inflation eases to 4.59% in Dec; IIP contracts 1.9% in November
The Index of Industrial Production (IIP) contracted 1.9 per cent for November 2020, culling the trend of factory output in the previous two months showing signs of revival, data released by the Ministry of Statistics & Programme Implementation (MoSPI) showed on Tuesday.
For November, IIP with base 2011-12 stands at 126.3, the Ministry s data showed. IIP for mining, manufacturing and electricity sectors for the same month stand at 104.5, 128.4 and 144.8, respectively.
Mining and manufacturing output shrank by 7.3 per cent and 1.7 per cent, respectively, while electricity output grew by 3.5 per cent in November.
India s industry output contracts 1.9% in November, bucks revival trend
During April-November period of the fiscal year 2020-21, the IIP growth contracted 15.5 per cent as against a 0.3 per cent growth in the year ago period, the data from MoSPI showed
BusinessToday.In | January 12, 2021 | Updated 18:39 IST
IIP contracts 1.9 per cent in November
India s industrial output, measured by the Index of Industrial Production (IIP), contracts 1.9 per cent year-on-year (y-o-y) in the month of November, according to the data released by the Ministry of Statistics & Programme Implementation (MoSPI) on Tuesday. The country s industrial output had grown by 2.1 per cent in November 2019 and 4.2 per cent (revised) in October 2020, the government data showed.