Nifty closed above 17,400 with a gain of 234 points; Sensex climbs 777 points
Equity benchmark Sensex jumped 777 points on Thursday, tracking gains in index majors HDFC twins, Infosys and TCS, despite massive negative cues from global peers. The 30-share index closed 776.50 points or 1.35 per cent higher at 58,461.29, rising for the second consecutive session. Similarly, the NSE Nifty rose 234.75 points or 1.37 per cent to 17,401.65.
HDFC was the top gainer in the Sensex pack, rising nearly 4 per cent, followed by PowerGrid, Sun Pharma, Tata Steel, Tech Mahindra and Bajaj Finserv. On the other hand, ICICI Bank and Axis Bank suffered losses.
Vinod Nair, Head of Research, Geojit Financial Services, said, “Despite weak sentiment in international markets, gains in IT, financials and metals stocks continued to rally in domestic indices amid strong domestic macroeconomic data.”
He said that the fiscal deficit of the central government in October is 36.3 percent of the budget estimate, which is better due to the improvement in revenue collection. On the global front, the Fed chair’s comments triggered a fresh global sell-off, suggesting a rapid end to the bond-buying program and a rise in interest rates, as well as the possibility of the first confirmed case of the Omicron variant in the US.
Elsewhere in Asia, shares in Hong Kong and Seoul ended higher, while Shanghai and Tokyo were in the red. Stock Exchange Europe was trading with losses in mid-session deals. International oil benchmark Brent crude rose 2.41 percent to $70.53 a barrel.
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