Sunday, December 22, 2024 | 11:47 AM ISTEN Hindi

Sensex zooms 934 pts, reclaims 52,500; Nifty tops 15,600; all sectors rally

CLOSING BELL: Beaten down PSB, Metal, and Energy (Oil and Gas) indices rose the most in today's trade. Related indices advanced between 4 per cent and 4.5 per cent

SI Reporter New Delhi

MARKET LIVE: Sensex soars 900pts, Nifty near 15,700; SBI surges over 4%

CLOSING BELL

Stock market highlights: Global equities climbed for a second consecutive day on Tuesday, taking solace in US Treasury Secretary Janet Yellen's comments that a recession in the United States is not "inevitable". That said, bond yields and oil prices continued to rally even today.

The S&P BSE Sensex zoomed 1,200 points intra-day to hit a high of 52,799. The index, however, settled 934 points, or 1.81 per cent, higher at 52,532. On the NSE, the Nifty50 closed at 15,639, up 289 points or 1.88 per cent, after hitting a high of 15,707 in the intra-day.

Beaten down PSB, Metal, and Energy (Oil and Gas) indices rose the most in today's trade as investors indulged in bargain buying. Related indices advanced between 4 per cent and 4.5 per cent. Other sectoral indices, too, added up to 2 per cent.

Among individual stocks, Titan Company, Hindalco, JSW Steel, Coal India, Adani Ports, Tata Motors, SBI, ONGC, TCS, Eicher Motors, Dr Reddy's Labs, Tata Steel, HCL Tech, Infosys, and Wipro gained in the range of 2.5 per cent to 6 per cent. Only Nestle India and Apollo Hospitals declined up to 0.1 per cent on the Nifty50 index.

In the broader market, the BSE MidCap index added 2.4 per cent, while the BSE SmallCap index edged 3 per cent higher.

4:11 PM

Nifty tech view: Recovery may continue as long as index holds above 15,500

Nifty moved up after a brief consolidation on the daily chart.

On the higher end, it has reached near its previous swing low.

The daily RSI is in positive divergence. Over the short term, the index may move higher towards 16,000.

The recovery may continue as long as it holds above 15,500.

Views by Rupak De, Senior Technical Analyst at LKP Securities

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4:08 PM

Post closing view: Recovery hints inflation, monetary policy worries factored in

Absence of fresh selling triggers in the domestic and global economy along with falling commodity prices relieved the heavily discounted equity market to showcase recovery.

The recovery indicates that the current uncertainties of inflation and monetary policy tightening have been factored in.

However, with the highly sensitive nature of the current equity market, even the slightest inconvenience can trigger volatility.

Views by Vinod Nair, Head of Research at Geojit Financial Services