New record highs: Markets continue to rise, banking stocks shine (Roundup)

Mumbai, Dec 29 : The improving economic scenario, along with healthy buying in private banking sector stocks, pushed India’s key equity indices to breach new record intra-day and closing highs on Tuesday.
Besides, a small intra-day correction pulled in fresh foreign funds. The strong FII inflows have continued their holiday shopping and have relentlessly bought around Rs 43,000 crore worth of shares in December.
This continuous FII buying, barring one session this month, has supported the index at higher zones.
Positive global cues such as Brexit developments and the new US stimulus package along with upcoming roll-out of anti-Covid vaccine in emerging markets led to continuation of foreign fund influx.
On Tuesday, the foreign investors pumped in liquidity worth Rs 2,349.53 crore.
Globally, shares extended their year-end rally with Japanese stocks hitting a 30-year high.