Saturday, December 21, 2024 | 07:16 PM ISTEN Hindi

Sensex leaps 446 pts, Nifty tops 17,100 as RIL, Bajaj Fin gain 3%; IT slips

CLOSING BELL: The market breadth was firmly in the favour of buyers as the broader markets, too, rose in tandem with the benchmark indices

SI Reporter New Delhi

stock market, markets, brokers, trading, nse, bse, sensex, nifty, rally, coronavirus, covid, lockdown

CLOSING BELL

Stock market highlights: Amid improved global sentiment, and a relief rally after days of bear hammering, equity markets logged strong gains on Tuesday. Besides, healthy buying in index heavyweights Reliance Industries (up 3.2 per cent, and top large-cap gainer), Bajaj twins, Titan, ICICI Bank, Axis Bank, HDFC twins, Ultratech Cement, and IndusInd Bank added to the gains.

The S&P BSE Sensex surged 446 points, or 0.77 per cent, to settle at 58,075 levels today, while the Nifty50 moved past the 17,100-mark to end at 17,107, higher by 119 points or 0.7 per cent.

The market breadth was firmly in the favour of buyers as the broader markets, too, rose in tandem with the benchmarks. The S&P BSE Midcap and SmallCap indices closed with gains of up to 0.6 per cent.

Among sectors, financial stocks were seen holding the fort with the Nifty Bank, PSU Bank, Pvt Bank, and Financial Services indices gaining up to 2 per cent. The defensive plays, meanwhile, were on the backfoot with the Nifty IT, and FMCG indices down up to 0.8 per cent.

4:16 PM

COMMENT:: Day's gains capped by IT stocks amid muted deals in the BFSI space

"Gaining buoyancy from a slew of measures to shield the banking sector, global markets witnessed recovery ahead of the US Fed policy announcement on Wednesday. The momentum was passed onto domestic equities, which were led by large-cap banks. However, the gains were capped by IT stocks on caution over muted deal wins from the BFSI segment in the western markets."

- Vinod Nair, Head of Research at Geojit Financial Services

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