Nifty ends above 17100 today, Sensex up 886 pts
Closing Bell: Nifty ends above 17100 today, Sensex up 886 pts
Indian stock markets opened gap-up on Tuesday tacking positive cues from the global markets. The Nifty today opened at 17044.10, up by 131.85 points whereas Sensex made a positive opening of 378.84 points at 57125.98 levels. The benchmark indices Sensex and Nifty today traded above their neutral lines on account of buying in almost all sectors. In the end, the market snaps a two-day losing streak and closed in the green today.
Stock Market News Today
The market sentiments were upbeat as a private report said that the Indian economy is showing strong signs of recovery from the devastation caused by the pandemic, with an upswing being reported in19 out of the 22 economic indicators as compared to the pre-covid levels.
The market got some support as new research from the US India Strategic Partnership Forum (USISPF) and digital currency exchange CrossTower has said web 3.0, the idea that the next iteration of the internet which will be built on concepts of decentralization, openness, and greater user utility, can help India contribute an additional $1.1 trillion of economic growth to its GDP over the next 11 years.
On the global front. Asian markets closed higher following the positive cues from the US markets overnight. Traders were also reacted in an optimistic way on easing concerns about the new Covid Omicron variants amid indications the new strain causes milder symptoms. European markets are trading higher tacking the strong global cues.
Stock Market at the Close
At the close, Nifty gained by 264.45 points or 1.56 percent and closed at 17176.70 while Sensex was up by 886.51 points or 1.56 percent and finished at 57633.65 levels. The Bank Nifty index also closed in the green today, it closed higher by 882.50 points or 2.47 percent and ended at 36618.40 levels.
The broader markets also closed in the green today following their larger peers. The Nifty midcap index was up by 419.40 points or 1.40 percent and closed at 30282.60 levels. The Nifty smallcap index was gained by 117.20 points or 1.09 percent and finished at 10826.50 levels.
Top Nifty Gainers and Losers
The top gainer in the Nifty 50 index was Hindalco, Tata Steel, Axis Bank, ICICI Bank, and Tata Motors whereas the top losers were Cipla, Britannia, Divis Lab, Asian Paints, and IOC.
The Nifty mid-cap top gainers were Torrent Power, SAIL, and Indian Hotels, and the losers were Vodafone Idea, CESC, and Alembic Pharma
The top gainers in the Nifty smallcap index was Hind Copper, Nalco, and Dilip Buildcon, and the losers were KEI Industries, Quess Corp, and Strides Pharma.
The most active stocks in the Nifty index in terms of value were ICICI Bank, Kotak Bank, and Reliance. The most active stocks in terms of volume were ICICI Bank, Tata Motors, and Hindalco.
On a sectoral front, all the sectors closed in the green today. The sectors that led the rally were Metals, Realty, Banking, Auto, Consumer Durables, and Auto.
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Happy Investing!!
Editorial desk
