Nifty ends above 17800 despite a spike in Covid cases
Sensex up 672 pts, Nifty ends above 17800 despite a spike in Covid cases
Indian stock markets opened higher on Tuesday amid positive cues from the global markets. The Nifty50 index opened at 17681.40 levels, up by 55.7 points while Sensex made a positive opening at 59343.79 levels up by 160.57 points. Indian markets erased their early gains immediately after opening and after a few minutes of trading, indexes recovered and closed on a positive note today.
Stock Market News Today
Indian markets were trading in fine fettle today due to heavy buying witnessed in PSU Banking, Utilities, and Power sectors. Buying in frontline counters such as NTPC, SBI, and Power Grid were aiding sentiments while selling in IT and Pharma stocks capped the market on the higher side.
The market sentiments remain optimistic despite the spike in Covid cases in the country. The government data showed that India’s export surged 37 percent on an annual basis to $37.29 billion in December 2021, the highest ever monthly data. The market sentiments were also upbeat as FIIs have turned buyers in the equity cash segment in the last two days.
On the global front, Asian markets were closed mostly in the green despite worries that the surges of the Omicron Covid-19 variant could put the brakes on global economic recovery. European market indexes continued their northward journey for the second consecutive day in the year 2022.
Sensex and Nifty at the Close
At the close, Nifty was up by 179.55 points or 1.02 percent and closed at 17805.25 levels while Sensex gained 672.71 points or 1.14 percent and finished at 59855.93 levels. The Bank Nifty index also closed in the green today, it was up by 418.25 points or 1.15 percent on spot and ended at 36840.15 levels.
The broader markets closed in the green today, as the Nifty midcap and smallcap index ends positively today. The Nifty midcap index was up 82.35 points or 0.27 percent and closed at 30870.35 levels. The Nifty smallcap index gained by 36.55 points or 0.32 percent and finished at 11455 levels.
Top Nifty Gainers and Losers Today
The top gainers in the Nifty 50 index were NTPC, ONGC, SBI, Power Grid, and Reliance Whereas the top losers were Tata Motors, Coal India, Tata Consumer, Sun Pharma, Shree Cement.
The Nifty midcap top gainers were Aditya Birla Fashion, Alembic Pharma, Hind Zind and the losers were Navin Fluorine, Aarti Ind, and Vodafone Idea.
The top gainers in the Nifty smallcap index were Balrampur Chini, Affle India, EID Parry, and the losers were Vakrangee, KEC Intl, and Granules India.
The most active stocks in the Nifty index in terms of value were Reliance, Tata Motors, and SBI. The most active stocks in terms of volume were NTPC, Tata Motors, and SBI.
On a sectoral front, PSU Banking, Energy, Banking, Financial Services, and IT sectoral indices were closed in the green today. The sectors that closed in the red were Metals, Pharma, and Realty.
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Happy Investing!!
Editorial desk
