SENSEX VAULTS 610 PTS TO CLOSE ABOVE 52000 MARK
The Sensex rallied 610 points to finish above the 52,000-mark for the first time while the Nifty soared past 15,300 on Monday as investors piled into banking and finance stocks amid a bullish trend overseas.
Supportive macroeconomic data and unabated foreign fund inflows added to the momentum, traders said.
After touching a record high of 52,235.97 during the day, the 30-share BSE Sensex ended 609.83 points or 1.18 per cent up at its new closing peak of 52,154.13.
Similarly, the broader NSE Nifty soared 151.40 points or 1 per cent to finish at a record 15,314.70. It touched an intra-day peak of 15,340.15.
Axis Bank led the Sensex gainers' chart, climbing 5.88
per cent, followed by ICICI Bank, Bajaj Finance, SBI, IndusInd Bank, HDFC, Bajaj Finserv and HDFC Bank.
On the other hand, Dr Reddy's, TCS, Tech Mahindra, HUL, Asian Paints and Titan were among the laggards, sliding up to 1.77 per cent.
"Indian market opened on a positive following upbeat peers in Asia as Nikkei 225 crossed 30,000 for first time in more than three decades with Japan's economy growing 12.7 per cent on an annualised basis in October to December last year," said Narendra Solanki, HeadEquity Research (Fundamental), Anand Rathi.
Sector-wise, BSE bankex, finance, realty, industrials, telecom and healthcare indices rallied up to 3.31 per cent, while IT, consumer durables, metal and teck ended in the red.
Mumbaibased Hiranandani Group said it will set up an integrated logistics and data centre park with an aggregated investment of around Rs 10,000 crore.
It has signed a memorandum of understanding to acquire 100-acre land at Uttarpara in Hooghly district from Hindustan Motors to set up the integrated logistics and data centre park.
Two group companies - GreenBase and Yotta- will develop the project.
"The combined investment by the group and their customers is estimated to cross Rs 10,000 crore."
The first facility of industrial and logistics park will be ready by June 2022 and the first data centre by 2023, it said. GreenBase will deliver a modern and self-sustainable ecosystem, consisting of three-million sq. feet of industrial and warehousing space, while Yotta will involve in the development of six hyper-connected data centre buildings, it said.
The data centre will be capable to serve the entire eastern region, it said.
"Kicking off this project would not have been possible without the tremendous support of West Bengal Chief Minister Mamata Banerjee. The state is the gateway to the east. It is an ideal hub for logistics and industrial development with excellent road, rail and riverine connectivity," the group CEO Darshan Hiranandani said.
The announcement comes ahead of the West Bengal Assembly elections, due in April-May. Speaking on the proposed project by the group, the chief minister said, "It is encouraging for West Bengal. We are ready to offer all the support."
Echoing Banerjee, West Bengal Industrial Development Corporation chairman Rajiva Sinha said, "We are glad to hear their investment announcement. We will offer all the assistance to the project."
Hiranandani said the data centre business will benefit from the digitisation revolution, the upcoming 'Silicon Valley' at New Town in Rajarhat, the fibre connectivity on land and the new submarine cable coming up at Tajpur.