Closing Bell: Sensex jumps 350 pts, Nifty end above 17300
Indian stock markets opened higher on Tuesday amid positive cues from the global market peers. The Nifty made a positive opening of 75.2 points at 17297.20 levels while the Sensex was opened at 57814.76 levels, up by 221.27.
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Indian markets continued to trade in the green terrain-following gains in index majors Ultratech Cement, HDFC, and Bharti Airtel amid a largely positive trend in global equity markets. The market sentiments were positive due to the decline in crude oil prices overnight. Investors were optimistic about today’s Russia-Ukraine peace talks in Turkey for any sign of a de-escalation of the conflict.
Further, the market remained positive as the Crisil rating report stated that RBI’s new rules for microfinance institutions (MFIs) who have been deeply impacted by the Covid-19 pandemic because of loan losses will help widen profits by giving such entities greater flexibility in operations.
The local markets got some support from Commerce and Industry Minister Piyush Goyal’s statement that the free trade agreement between India and UAE has opened huge opportunities and businesses of both countries should look at taking the bilateral trade to $250 billion by 2030.
On the global front, the other Asian market indexes mostly closed in the green today following positive cues from the US markets overnight. The drop in oil prices and expectation of stimulus packages in china also supported the markets. European markets are trading in the green as the investors are hopeful about the progress of peace talks between Russia and Ukraine in Turkey for a diplomatic solution to end the war.
Sensex, Nifty indexes at the close today
At the close, the Nifty index gained 103.30 points or 0.60 percent and closed at 17325.30 levels while Sensex was up by 350.16 points or 0.61 percent and finished at 57943.65 levels. The Bank Nifty index ended higher by 136.90 points or 0.38 percent on spot and ended at 35847.40 levels.
The broader markets also gained in line with their larger peers today. The Nifty midcap index was up by 121.10 points or 0.41 percent and closed at 29342.30 levels. The Nifty smallcap index closed higher by 34.95 points or 0.34 percent and finished at 10264.55 levels.
Top Nifty gainers and losers
The top gainers in the Nifty 50 index were Eicher Motors, Adani Ports, Divis Labs, JSW Steel, and HDFC whereas the top losers were Heromotorcorp, ONGC, Coal India, IOC, and ITC.
The top gainers in the Nifty midcap index were Ipca Labs, Max Financials, and Indiabulls Hsg and the top losers were Tata Elxsi, Escorts, Bombay Burmah
The smallcap top gainers were Birla corp, Tanla Platforms, and JK Lakshmi Cement, and the top losers were Wockhardt, Future Retails, and Thyrocare Tech
The most active stocks in the Nifty index in terms of value were Bharti Airtel, Reliance, and TCS. The most active stocks in terms of volume were Tata Motors, ITC, and Bharti Airtel.
On a sectoral front, the Pharma, Financial Services, Realty, Consumer Durables, and Banking were closed higher today. The sectors that closed in the red were Media, PSU Bank, Oil & Gas, and Auto
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Editorial desk
