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Saturday, January 22, 2022

Market Highlights: Sensex rallies 620 points, Nifty ends above 17,150; Metals, banks, IT, autos rise

Share Market, Stock Market Highlights: The S&P BSE Sensex ended at 57,684.79, up 619.92 points (1.09 per cent), while the Nifty 50 settled at 17,166.90, up 183.70 points (1.08 per cent).

By: Express Web Desk | New Delhi |
Updated: December 1, 2021 5:33:46 pm
Bombay Stock Exchange building. (Express archive photo)

Share/Stock Highlights: The benchmark equity indices on the BSE and National Stock Exchange (NSE) ended over 1 per cent higher on Wednesday led by information technology (IT), metals, banking and auto stocks, following a robust economic growth in the second quarter ended September (Q2).

The S&P BSE Sensex surged 619.92 points (1.09 per cent) to end at 57,684.79 while the Nifty 50 settled at 17,166.90, up 183.70 points (1.08 per cent). Both the indices had opened over 1 per cent higher and traded higher throughout the day.

IndusInd Bank, Axis Bank, State Bank of India (SBI), Tech Mahindra, Maruti Suzuki India, Reliance Industries (RIL) and ICICI Bank were the top gainers on the Sensex pack on Wednesday. On the other hand, Dr. Reddy’s Laboratories, Ultratech Cement, Sun Pharmaceutical Industries, Bharti Airtel were the top laggards.

Among the sectoral indices, the Nifty Metal index climbed 2.32 per cent led by JSW Steel, Hindustan Copper and NMDC while the Nifty PSU Bank rallied 2.66 per cent led by Union Bank of India and Canara Bank. The Nifty IT index rose 1.10 per cent aided by MphasiS and Tech Mahindra while the Nifty Auto jumped 1.46 per cent driven by Tata Motors and Maruti.

(with inputs from agencies)

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Stocks, BSE Sensex, NSE Nifty, Crude oil prices, gold, silver prices, commodity market and money markets LIVE updates:

15:58 (IST)01 Dec 2021
MARKET QUOTE | Vinod Nair, Head of Research at Geojit Financial Services on Wednesday's market performance

"After the sharp sell-off in the global markets yesterday, Indian equities reversed its course following recovery in global markets and strong domestic GDP data. India’s Q2 GDP  recorded a growth of 8.4% as economic activity moved towards normalcy after the impact of the second wave. Though the Fed chair’s comment on speeding up the pace of the bond-buying taper plan kept investors cautious along with the concerns of Omicron, the global markets recovered sharply today"

15:32 (IST)01 Dec 2021
Equity markets at close

The S&P BSE Sensex ended at 57,684.79, up 619.92 points or 1.09 per cent, while the Nifty 50 settled at 17,166.90, up 183.70 points or 1.08 per cent.

13:58 (IST)01 Dec 2021
GST mop up in November at Rs 1.31 lakh crore, second highest since rollout

Goods and Services Tax (GST) collections jumped to over Rs 1.31 lakh crore in November, the second highest since its implementation in July 2017, in line with the trend in economic recovery, the finance ministry said on Wednesday.

“The gross GST revenue collected in the month of November 2021 is Rs 1,31,526 crore of which CGST is Rs 23,978 crore, SGST is Rs 31,127 crore, IGST is Rs 66,815 crore (including Rs 32,165 crore collected on import of goods) and Cess is Rs 9,606 crore (including Rs 653 crore collected on import of goods),” the ministry said in a statement. Click here to read

13:56 (IST)01 Dec 2021
India manufacturing PMI expands sharply in November

The Indian manufacturing sector continued to expand strongly in November, as an accelerated rise in sales supported the fastest upturn in production for nine months. The seasonally adjusted IHS Markit India Manufacturing Purchasing Managers’ Index (PMI) rose from 55.9 in October to 57.6 in November.

This signalled the strongest improvement in the health of the sector for ten months, as the headline figure was well above its long-run average of 53.6. Inflation pressures, however, are being seen as a key risk going ahead. Click here to read

12:46 (IST)01 Dec 2021
Petrol price in Delhi slashed by Rs 8 as VAT reduced to 19.4%

The price of petrol in Delhi has been reduced by Rs 8, after the Delhi cabinet decided to slash VAT from 30% to 19.40%. Petrol will now cost Rs 95.97. Before the reduction, the cost was Rs 103.97.

The Centre had announced a reduction of Rs 5 per litre in the excise duty on petrol and a Rs 10 per litre on diesel in the first week of November, after fuel prices touched a record high. Click here to read

11:40 (IST)01 Dec 2021
Tega Industries IPO opens today: Here’s everything you need to know

The initial public offering (IPO) of Tega Industries opened for subscription today, December 1, 2021, at a price band of Rs 443-453 per share. The offer will be available till Friday, December 3, 2021.

The Kolkata-based company is a manufacturer of consumables for the mining industry. Tega Industries offers comprehensive solutions to marquee global clients in the mineral beneficiation, mining and bulk solids handling industry, through its wide product portfolio. Click here to read

10:05 (IST)01 Dec 2021
Riding consumption and farm uptick, economy grows at 8.4% in second quarter

The Indian economy clocked a healthy growth rate of 8.4 per cent in July-September, the second quarter of financial year 2021-22, primarily on the back of a low base but aided by increased vaccination and an uptick in agriculture, public administration and defence services sectors, data released Tuesday by the National Statistical Office showed.

The RBI had projected a growth rate of 7.9 per cent in Q2 this year. Click here to read

10:00 (IST)01 Dec 2021
Global market update

Asian shares were mixed Wednesday amid nervous trading due to worries over the newest coronavirus variant.

Japan's benchmark Nikkei 225 was up 0.8per cent in morning trading to 28,062.99, after gyrating earlier in the session. South Korea's Kospi jumped 1.1per cent to 2,869.67. Australia's S&P/ASX 200 dipped 0.4per cent to 7,229.40. Hong Kong's Hang Seng gained 1.3per cent to 23,787.71, while the Shanghai Composite was little changed, inching down less than 0.1per cent to 3,563.03.

The detection of the omicron variant in Japan, as well as Brazil, announced Tuesday, has raised fears that further measures to contain infections would squelch tourism and other economic activity. Experts say it may take weeks before they know more details about whether the omicron variant causes serious illness.


09:55 (IST)01 Dec 2021
Equity market at open

Sensex jumps 612.66 pts to 57,677.53 in opening session; Nifty surges 207.80 pts to 17,191.00.


Equity indices surrendered early gains to close in the red on Tuesday, mirroring the nervousness in world markets about the impact of the Omicron variant of the coronavirus on global economic recovery. A depreciating rupee and unabated foreign fund outflows further weighed on sentiment, traders said.

After rallying over 900 points in intra-day trade, the 30-share BSE Sensex pared all gains to settle 195.71 points or 0.34 per cent lower at 57,064.87. Similarly, the NSE Nifty declined 70.75 points or 0.41 per cent to 16,983.20 -- closing below the 17,000-mark for the first time in three months.

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