Expected Covid relief measures sustain equities’ gains; Nifty, Sensex at record highs

India’s key stock indices rose during opening trade session on Friday to reach new intra-day record high levels.

Accordingly, both key indices, S&P BSE Sensex and NSE Nifty50, made new record highs.

The Sensex crossed the 59,500 mark, while Nifty breached the 17,700 level.

As per market observers, the up moves comes on the back of GST Council’s meet to discuss further Covid relief measures and inclusion of fuel in the indirect tax system.

Initially, both key indices had a gap-up opening.

Even stable global cues supported these gains as Asian markets were largely firm.

At 9.50 a.m., S&P BSE Sensex traded at 59,511.43 points, higher by 370.27 points or 0.63 per cent from its previous close.

Similarly, NSE Nifty50 traded higher. It rose to 17,727.70 points, higher by 98.20 points or 0.56 per cent from its previous close.