The Indian equity benchmark indices soared over 1 percent higher Wednesday as investors bought the dip as the authorities released a set of strong economic data.
The 30-scrip Sensex closed at a record high of 57,684, as it rose 620 points and the Nifty50 index surged over 180 points to end at 17,166. The broader markets supported the rally as mid-caps rallied a percent higher and small-caps eeked out small gains.
Among the 50 stocks on Nifty, IndusInd Bank, JSW Steel, Tata Motors, Axis Bank, and Adani Ports led the gains, as each scrip rose over 3 to 5 percent. Leading the losses were Cipla, Divi's Lab, UltraCement, Dr Reddy, Bharti Airtel.Among sectors on NSE, the recovery was broad-based. Metal and financial stocks surged over 2 percent. Auto, IT, and media stocks ended over 1 percent higher. Pharma and healthcare index declined over 1.5 percent.Globally, markets roared higher, reversing the losses of previous sessions, as investors bought the dip to bet the latest variant of coronavirus, Omicron, will not derail the economic recovery.Eurostoxx was up over 1 percent, Britain and Germany's benchmarks were rising over 1 percent. MSCI's gauge of world stocks also soared 1 percent higher. Wall Street futures were pointing to a strong opening. Asian stocks also rose over 1 percent.With inputs from Reuters(Edited by : Yashi Gupta)
Closing Bell: Sensex climbs 600 points, Nifty above 17,160; IndusInd Bank leads - CNBCTV18
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