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Thursday, January 27, 2022

Sensex surges 651 points, Nifty settles above 18,000-mark led by banks and auto stocks

The S&P BSE Sensex ended at 60,395.63, up 650.98 points (1.09 per cent), while the Nifty 50 settled at 18,003.30, up 190.60 points (1.07 per cent).

By: Express Web Desk | New Delhi |
Updated: January 10, 2022 4:03:39 pm
stock market, sensex live, sensex share pricePeople stand outside the Bombay Stock Exchange (BSE), after Sensex surpassed the 60,000 level for the first time, in Mumbai, India, September 24, 2021. (REUTERS/File Photo)

The frontline equity indices on the BSE and National Stock Exchange (NSE) ended over 1 per cent higher on Monday led by gains in banking and automobile stocks.

The S&P BSE Sensex rose 650.98 points (1.09 per cent) to end above the 60,000-mark at 60,395.63, while the broader Nifty 50 climbed 190.60 points (1.07 per cent) to end above the 18,000-level mark at 18,003.30. Both the indices had opened over 0.5 per cent higher earlier in the day and traded on a largely positive note throughout the session.

On the Sensex pack, Titan Company was the top gainer of the day rising over 3 per cent, followed by State Bank of India (SBI), Maruti Suzuki India, Larsen & Toubro, Kotak Mahindra Bank and Housing Development Finance Corporation.

Among the sectoral indices on NSE, the Nifty Auto index rose 1.87 per cent on Monday driven by the gains in Hero MotoCorp, Maruti and Tata Motors. Likewise the Bank Nifty rose 1.61 per cent led by RBL Bank, The Federal Bank and Punjab National Bank. The Nifty Financial Services index too rose 1.53 per cent aided by HDFC Asset Management Company.

In the broader market, the S&P BSE MidCap index ended at 25,649.52, up 176.69 points (0.69 per cent) led by Adani Power and GMR Infrastructure, while the S&P BSE SmallCap settled at 30,388.89, up 356.75 points (1.19 per cent).

“Amid weak global markets and rising covid cases, the domestic market displayed strong momentum on expectations of a healthy start to the earnings season. PSU Banks led the sectorial rally as reports suggested an increase in FPI limits while the realty sector followed the trend on robust sales numbers and expectations of support measures in the upcoming budget. Globally, bourses were muted as reports of record-high Eurozone inflation at 5% kept investors on edge while awaiting the release of the US inflation data later this week which is expected to remain elevated,” Vinod Nair, Head of Research at Geojit Financial Services, said in a statement.

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