Earnings cheer stocks, indices at new peak

Mumbai: Sensex and Nifty scaled new all-time highs as the market gathered steam after a halt last week, with the rally broadening out to even the mid-cap and small-cap stocks as the earnings season has started off on an optimistic note led by Infosys and Avenue Supermarts. The US-China Phase One trade deal slated for Wednesday and higher manufacturing data for November also added to the positive sentiments.

Sensex and Nifty-50 gained close to 0.6 per cent with Sensex touching a record high of 41,899.63 before closing at 41,859.69 and Nifty soared to 12,337.75 and closed at 12,329.55.

The BSE Mid-cap Index gained 0.87 per cent and Small-cap, 0.95 per cent.

Infosys led the rally, gaining 4.76 per cent, on positives like the company giving a clean chit to the CEO, higher revenue guidance at 10-10.5 per cent on constant currency terms, robust deal wins of $1.8 billion and in-line December quarter results.