Indian equity market ended higher for the second straight session today, following a firm trend in the global markets. Extending its previous day’s rally, Sensex jumped 361.01 points to close at 60,927.43. During the day, it rallied 420.26 points to 60,986.68. Nifty climbed 117.70 points or 0.65 per cent to end at 18,132.30.
Top gainers
Tata Steel (5.86%), Tata Motors (2.42%), Larsen & Toubro (1.72%), Asian Paints (1.71%) and Wipro (1.59%) were the top Sensex gainers.
Top losers
Hindustan Unilever (1%) , ITC (0.45%), Mahindra & Mahindra (0.33%) and Nestle (0.58%) were the laggards.
Vinod Nair, Head of Research at Geojit Financial said, “With strong support from global peers, the domestic market is attempting to recoup its previous week’s losses. Metal stocks shone amid hopes of a demand revival in China on reports of loosening COVID restrictions. This, along with fears over supply disruptions from winter storms in the US, resulted in oil prices rising.”
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Market cap of BSE-listed firms settled at Rs 280.42 lakh crore.
BSE mid cap and small cap indices rose 194 points and 410 points, respectively. Market breadth was positive with 2,539 shares closing higher against 971 stocks falling on BSE. 121 shares were unchanged.
Metal, auto, consumer durables and capital goods shares were the top sectoral gainers with their BSE indices rising 905 pts, 233 pts, 269 points and 463 pts, respectively.
Foreign institutional investors (FIIs) offloaded shares worth Rs 497.65 crore on Monday, according to exchange data.
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Rupak De, Senior Technical Analyst at LKP Securities said, “Nifty moved higher at the end of a volatile trading session, adding 0.65% to the previous closing. On the daily chart, the rally stopped at the 50EMA. As long as it remains above 18,070, the trend appears to be positive. On the higher end, the index may move up towards 18,350. Support on the lower end is placed at 18,070/17,950.”
Previous session
Indian market ended in the green on Monday led by a rally in IndusInd Bank, SBI, Tata Steel, Bajaj Finserv, ITC, Axis Bank and Tata Motors. Sensex ended 721 points higher at 60,566 in Monday’s session, rebounding after four straight sessions of fall. Nifty too gained 207 pts to 18,014 in the first session of this week, reflecting positive investor sentiment on Dalal Street. Banking, capital goods, metal, oil and gas and IT stocks were the top sectoral gainers.
Global markets
Elsewhere in Asia, equity markets in Seoul, Tokyo and Shanghai ended with gains. Equity exchanges in Europe were trading in the positive territory in mid-session deals. Markets in the US were closed on Monday. International oil benchmark Brent crude climbed 0.49 per cent to USD 84.33 per barrel.
