MARKETS: Sensex up 550 pts, Nifty above 17,500; IT firm, financial rally

On the Sensex, the heavyweights Reliance Ind, HDFC Bank, Infosys, TCS traded 0.8%, 0.9%, 1% and 2% more respectively. On the Nifty, Eicher Motors, Coal India and Tata Motors were the additional winners.

Besides the IT, Auto and Bank indices, the Realty index was also trading over 1% higher than the NSE. Oberoi Realty, Lodha, Prestige and IndiaBulls Real Estate and DLF rose 1.6 to 4 percent.

Asian markets

Shares in Asia were mixed on Monday, with some of the region’s major markets closed. Hong Kong’s Hang Seng Index lost its earlier gains and fell into negative territory, falling 0.62% percent in the afternoon.

Trading in shares of Chinese developer China Evergrande Group was halted in Hong Kong on Monday, according to reports. No immediate reason was given for the shutdown. Elsewhere, South Korea’s Kospi gained 0.21%, while Taiwan’s Taiex rose 0.13%.

In Southeast Asia, the Straits Times index climbed 0.27 percent. Markets in Australia, mainland China and Japan are closed on Monday for the New Year holidays.


Markets at 10 a.m.

LIVE Market Updates: The benchmarks firmly extended their opening gains and rallied to 0.8 percent. The BSE Sensex was up 489 points to 58,743, while the NSE Nifty was heading towards the 17,500 mark and was at 17,493, up 139 points.

The larger indices were also showing strong momentum. The BSE MidCap and SmallCap indices were trading nearly 0.7% and 1% higher, respectively. Meanwhile, the Nifty IT Index hit a record high at 39,068.

Auto stocks saw buying based on healthy sales data for December. Eicher Motors shares rose 5% to Rs 2,714.15 on BSE after the company’s Royal Enfield brand announced a 43% increase in monthly sales to 73,739 units in December 2021. READ MORE.

On Sensex, TCS, HDFC Bank, Bajaj Finserv, L&T, Maruti, NTPC, ICICI Bank, Asian Paints were the top winners. M&M, Titan, Dr Reddy’s and IndusInd Bank, meanwhile, remained in the negative zone.


Opening bell

LIVE Market Updates: Benchmarks started on a positive note on the first trading day of the new calendar year and rose 0.6 percent. The Sensex BSE was at 58,587, up 334 points, while the Nifty50 was at 17,464, up 110 points.

In the broader market, the BSE MidCap and SmallCap indices were also in the green and rose 0.5 and 0.8 percent, respectively.

Among the components Sensex-30, Tech Mahindra, TCS, Wipro, Asian Paints, HCL tech, PowerGrid, Infosys, NTPC and RIL were the main winners, up 0.5 to 1%. Dr Reddy’s Labs, Titan, M&M, Kotak Bank and SBI, meanwhile, were the losers.

All sector indices were also positive with the exception of Pharmaceuticals and Health, which were down slightly. On the Nifty, the IT and Auto indices led the gains and were up 0.9% and 1.5% respectively.

Notably, Tata Motors, which posted its highest monthly sales on record in December, was trading more than 3% above BSE. Maruti, another large auto company that posted strong sales, was trading up 1.8%.

IT majors Infosys, Wipro, TCS and HCL Technology also grew by more than 1% each.


Pre-open session

Live Market Updates: Benchmarks gave a likely start on Monday as BSE Sensex was down 74 points to 58,179, while NSE Nifty was 64 points lower to 17,289.


LIVE Market Updates:

Major benchmarks are expected to start the new year on a lukewarm note, as shown by SGX Nifty Futures. As of 8:20 am, SGX Nifty’s January futures were listed at 17,408, indicating a likely start for trading.

Among stocks, auto stocks will be the center of attention after the companies reported strong sales data on Saturday.

RBL Bank may also be sought after as the ICRA rating agency has placed long and medium term ratings of the bank under review with evolving implications. Additionally, heavyweight Reliance could also be seen as brokerage firm Morgan Stanley reportedly gave the company an overweight call claiming its new energy stack continues to build as India progresses towards the target. of decarbonization.

In addition, Future Retail said it missed payments of Rs 39.49 billion to lenders as a result of the one-time debt restructuring plan and was therefore downgraded to default by Care Ratings.

Meanwhile, India’s growth in eight infrastructure sectors fell to a nine-month low of 3.1% in November over fears of an impending third wave of the pandemic.

That aside, given the new peak in Covid-19 cases, several states across the country have announced new travel restrictions and restrictions. The West Bengal government on Sunday limited flights from Mumbai and Delhi to twice a week.

Global indices

US markets ended trading on a lukewarm note on Friday. The Dow Jones and S&P 500 fell 0.2% and 0.3% respectively. The Nasdaq fell 0.6%.

In Asia, Hang Seng and Straits Times rose 0.4% each, while Taiwan gained 0.7%. Japan’s Nikkei and China’s Shanghai Composite have been closed for the New Year’s holidays.

Despite falling on the last trading day of 2021, crude oil prices posted their best annual gains for the year since 2015. Brent crude fell 2.2% to $ 77.78 on Friday. barrel, and WTI crude fell 2.3% to $ 75.21. a barrel.

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First published: Mon 03 Jan 2022 09:07 IST

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