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Sensex Surges 929 Points As Banking, IT Stocks See Strong Buying Support

The key indices of the Indian equities markets including Sensex and Nifty opened trading in the new year with significant gains and surged more than one-and-a-half per cent towards the end of the day's trade.

BSE Credits: ANI
Image used For Representational Purpose. (Photo: ANI)

Mumbai: The Indian equities markets started the new calendar year 2022 on a firm note with the benchmark Sensex surging 929 points despite rising COVID-19 related restrictions across the country.

The key indices of the Indian equities markets including Sensex and Nifty opened trading in the new year with significant gains and surged more than one-and-a-half per cent towards the end of the day’s trade.

The 30 stock S&P Sensex of the Bombay Stock Exchange closed at 59,183.22 points, which is 1.60 per cent or 929.40 points higher from its previous session’s close at 58,253.82 points.

Earlier the Sensex opened in the positive at 58,310.09 points and touched a high of 59,266.39 points in the intra-day. There was strong buying support throughout the day and the momentum picked up towards the end of the trading session.

The broader Nifty 50 of the National Stock Exchange closed 1.57 per cent or 271.65 points higher at 17,625.70 points. Earlier the Nifty opened in the positive at 17,387.15 points and touched a high of 17,646.65 points in the intra-day.

There was strong buying support in banking and IT stocks. Financial stocks of Bajaj Group surged. Bajaj Finance soared 3.52 per cent to Rs.7222.30. Bajaj Finserv climbed 3.49 per cent to Rs.16963.

ICICI Bank surged 3.31 per cent to Rs.764.75. IndusInd Bank jumped 2.79 per cent to Rs.912.40. HDFC surged 2.70 per cent to Rs.1519.70. Axis Bank surged 2.62 per cent to Rs.696.30. State Bank of India soared 2.26 per cent to Rs.470.85.

Other major Sensex gainers included: Tata Steel 2.85 per cent to Rs.1143.15; TCS 2.18 per cent higher at Rs.3818.15; HDFC 1.88 per cent higher at Rs.2635.45; UltraTech Cement 1.82 per cent higher at Rs.7729.90; Kotak Bank 1.54 per cent higher at Rs.1823.95 and Reliance Industries 1.53 per cent higher at Rs.2404.35.

Only five of the 30 scrips that are part of the Sensex closed in the red. Dr Reddy’s Laboratories slumped 1.13 per cent to Rs.4853.20. Mahindra & Mahindra 0.91 per cent down at Rs.829.70; Tech Mahindra 0.30 per cent down at Rs.1785.10; Nestle India 0.04 per cent down at Rs.19699.95 and Titan 0.02 per cent down at Rs.2523.75 were the only Sensex scrips that closed in the red.

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