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Friday, January 28, 2022

Market Highlights: Sensex climbs 673 points, Nifty settles above 17,800-mark; banks and financial stocks gain

Share Market, Stock Market Highlights: The S&P BSE Sensex ended at 59,855.93, up 672.71 points (1.14 per cent), while the Nifty 50 settled at 17,805.25, up 179.55 points (1.02 per cent).

By: Express Web Desk | New Delhi |
Updated: January 4, 2022 4:09:21 pm
Bombay Stock Exchange building. (Express archive photo)

Share/Stock Highlights: The frontline equity indices on the BSE and National Stock Exchange (NSE) continued their bull run and ended over 1 per cent higher on Tuesday taking cues from their global peers.

The S&P BSE Sensex surged 672.71 points (1.14 per cent) to end at 59,855.93 while the Nifty 50 rose 179.55 points (1.02 per cent) to settle at 17,805.25.

On the Sensex pack, NTPC was the top gainer of the day rising around 5.5 per cent. It was followed by PowerGrid Corporation of India, State Bank of India (SBI), Titan Company, Reliance Industries (RIL) and Axis Bank. On the other hand, Sun Pharmaceutical Industries, IndusInd Bank, Ultratech Cement and Dr. Reddy’s Laboratories were among the top laggards.

(with inputs from agencies)

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16:08 (IST)04 Jan 2022
MARKET QUOTE | Vinod Nair, Head of Research at Geojit Financial Services on Tuesday's market performance

"Tracking strong momentum of global peers, domestic bourses witnessed a smooth sail, steered by index heavyweights and gains in financials & consumer durables. Despite surging covid cases, investor sentiments remain positive globally as reports suggest lower impact of the new variant on economic recovery. However, India’s unemployment rate rose to 7.9% in December as compared to 7% in November owing to muted economic activity in rural and urban India amid rise in Omicron cases"

15:39 (IST)04 Jan 2022
Equity markets at close

The S&P BSE Sensex ended at 59,855.93, up 672.71 points or 1.14 per cent, while the Nifty 50 settled at 17,805.25, up 179.55 points or 1.02 per cent.

12:13 (IST)04 Jan 2022
Shopping on social media seen hitting $1.2 trillion by 2025

Shopping on social networks such as Facebook, TikTok and WeChat is going to grow three times faster than sales from traditional channels over the next three years, according to a study released by Accenture.

Social commerce, defined as transactions that take place entirely within the context of a social-media platform, will reach $1.2 trillion by 2025, up from $492 billion in 2021, the consulting company said in the report. The trend is being driven primarily by Gen Z and Millennial consumers, who are expected to account for 62% of the spending. Click here to read

11:07 (IST)04 Jan 2022
Moody’s assigns Baa2 rating to RIL’s $5 billion bonds issue

Moody’s Investors Service on Tuesday assigned a Baa2 rating to the proposed USD-denominated senior unsecured bonds of Reliance Industries Limited (RIL), with stable outlook.

Reliance last week said it will raise as much as USD 5 billion in foreign currency denominated bonds and use the proceeds to retire existing borrowings. Click here to read

10:40 (IST)04 Jan 2022
Rupee falls 26 paise to 74.54 against US dollar in early trade

The rupee declined by 26 paise to 74.54 against the US dollar in opening trade on Tuesday, tracking the strength of the American currency in the overseas market.

Forex traders said growing concerns over the Omicron variant of coronavirus and its impact on economic recovery as well as firm crude oil prices weighed on the local unit.

At the interbank foreign exchange, the rupee opened weak at 74.49 against the US dollar, then fell further to 74.54 against the greenback in early deals, registering a decline of 26 paise from the last close. On Monday, the rupee settled at 74.28 against the US dollar.


10:19 (IST)04 Jan 2022
ONGC gets first woman CMD

ONGC’s Director of Human Resources Alka Mittal on Monday took over additional charge of Chairman and Managing Director (CMD) of the company, becoming the first woman to hold the post at the Maharatna company. Mittal replaces Subhash Kumar who superannuated on December 31.

Mittal took over as Director—HR of Oil and Natural Gas Corporation (ONGC) in December 2018 and was also the first woman to hold the post of a full-time director on the board of ONGC. Click here to read

10:07 (IST)04 Jan 2022
Global market update

Asian stocks were firmer on Tuesday following Wall Street's record highs on its first trading day of 2022, despite worries that the widespread Omicron COVID-19 variant could put the brakes on global economic recovery.

MSCI's gauge of Asia Pacific stocks outside Japan was up 0.67% in the morning sessions.

Australia's S&P/ASX 200 climbed 1.15%, boosted by energy and mining stocks while Japan's Nikkei 225 gained 1.25%.

Hong Kong's Hang Seng Index and China's benchmark CSI300 Index opened up 0.5% and 0.25%, respectively.

Major Wall Street indexes scored record closing highs on Monday, even as the Omicron variant of the coronavirus pushed COVID-19 cases to fresh peaks in the world's largest economy.


09:52 (IST)04 Jan 2022
Equity market at open

Sensex rises 230.75 points to 59,413.97 in early trade; Nifty gains 80.40 points to 17,706.10.


The benchmark equity indices on the BSE and National Stock Exchange (NSE) kicked off 2022 with a bang as they surged around 1.6 per cent on the first trading session of the year on Monday led by a rally in banking and financial stocks.

The S&P BSE Sensex rallied 929.40 points (1.60 per cent) to settle at 59,183.22 while the Nifty 50 rose 271.65 points (1.57 per cent) to end at 17,625.70.

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