Rally continues on FII funds, Nifty50 inches away from 14K mark (Roundup)

Mumbai, Dec 30 : The ongoing market rally pushed the Indian equity market to new record highs on Wednesday with the NSE Nifty50 reaching just short of the 14,000-mark in the day’s trade session.
The day’s session was the sixth straight day of gains on the back of strong FII inflows of around Rs 1,824.52 crore on Wednesday.
Globally, Asian shares hit a record high but closed on a mixed note as investors bet on a strong economic recovery in 2021.
Similarly, European markets gained after the UK government approved the anti-Covid-19 vaccine developed by AstraZeneca and the University of Oxford.
Among sectors, auto, metals and realty were the main gainers whereas bank and pharma indices fell marginally.
In the day’s session, healthy buying was seen in cement stocks with UltraTech, Shree Cement being the top gainers on the Nifty.