Share Market updates: Sensex slips 300 points, Nifty ends below 17,250; Kotak Bank, HDFC, Airtel top losers
Sensex ends 304 points lower at 57,684 and Nifty falls 70 points to 17,245. Of 30 Sensex stocks, 18 ended in the red.
- Mar 23, 2022,
- Updated Mar 23, 2022 3:39 PM IST
Good afternoon!
Benchmark indices ended lower in volatile trade today despite opening in the green today. Sensex ended 304 points lower at 57,684 and Nifty fell 70 points to 17,245. Of 30 Sensex stocks, 18 ended in the red.
Earlier, Indian market opened sharply higher amid positive global cues. Sensex jumped over 388 points to 58,377.46 and Nifty also opened 89 points higher at 17,405.05.
HDFC Bank was the top gainer on Sensex, advancing over 1 per cent, followed by UltraTech Cement, M&M, Axis Bank, Bajaj Finserv and Tata Steel.
The indices recovered from an early fall to end over 1 per cent higher on Tuesday, led by heavy buying in index heavyweight Reliance Industries, Infosys and TCS amid a rally in global equities.
Sensex closed higher by 696.81 points or 1.22 per cent at 57,989.30. It touched a high of 58,052.87 and a low of 56,930.30 in intra-day trade. The index rallied 760.38 points or 1.32 per cent during the day.
Nifty rallied 197.90 points or 1.16 per cent to end at 17,315.50.
What's next? Here are the latest updates.
3:30 pm: Market ends in red
Sensex ends 304 points lower at 57,684 and Nifty falls 70 points to 17,245.
3:12 pm: Expert Quote
Vijay Dhanotiya, Lead of Technical Research at CapitalVia Global Research said, "The market witnessed profit booking after it failed to resist above the level of 17,400. As of now, the short-term technical condition of the market shows that the expected range of the market is likely to be between 17000 and 17400. While it is subject to further price action evolution, our research suggests it is prudent to wait for a decisive breakout above 17400 and technical factors to improve before going long in the market. Technical indicators suggest a volatile movement in the market."
2:50 PM: Kotak Mahindra Bank buys 7.84% stake in Open Network for Digital Commerce
Private sector lender Kotak Mahindra Bank said it has acquired 7.84 per cent stake in Open Network for Digital Commerce (ONDC) for Rs 10 crore. "Bank has acquired 7.84 per cent shareholding in ONDC through subscription of 10,00,000 Equity Shares of face value of Rs 100 each," Kotak Mahindra Bank said in a regulatory filing.
Through this acquisition, the lender said it "wishes to participate in the creation of infrastructure to develop and transform the Indian digital commerce ecosystem". ONDC was incorporated in India on December 30, 2021.
2:13 pm: Adani Power board approves merger of six entities with itself
Adani Power said its board has approved an amalgamation scheme for the merger of its six wholly owned subsidiaries with itself. "The Board of Directors of Adani Power Ltd at its Meeting held on March 22, 2022, approved, subject to requisite approvals/consents, the Scheme of Amalgamation of various wholly-owned subsidiaries of the company," a BSE filing said. READ MORE
1:45 PM: Ruchi Soya FPO to open tomorrow; here's what brokerages have to say
Edible oil and food products majors Ruchi Soya Industries is set to launch its follow-on public offering (FPO) on Thursday to garner Rs 4,300 crore. The company has fixed a price band of Rs 615-650 for the public offer. The issue will close on March 28. Brokerages on Dalal Street gave subscribe rating to the issue for the listing and long-term gains. Read More
1:15 pm: Expert Quote
Sahaj Agrawal, Head of Research- Derivatives at Kotak Securities said, "Nifty witnessed strong recovery in recent times. Currently we see strong resistance at 17650 levels for the Nifty50; failure to cross the same can invite selling pressure. For the short term expect range bound movement at 17000-17500. FMCG, IT remain in momentum while the high beta space is expected to remain volatile."
12:57 pm: Hero MotoCorp stock falls 4% after I-T dept conducts raids at Pawan Munjal's residence, office
Hero MotoCorp share falls up to 3.82% to Rs 2328.85 against the previous close of Rs 2421.30 on BSE. The decline in stock came amid reports that the Income Tax Department has conducted raids at the Hero MotoCorp Chairman and Managing Director Pawan Munjal's residence and office. Searches are underway at his residence and office in Gurgaon since morning. I-T department officials are also conducting searches at premises lined to other top officials of the company.
These searches have been conducted as part of a tax evasion investigation against India's largest two-wheeler manufacturer, as per Income Tax department officials. As part of this raid, I-T officials searched premises located across Gurugram, Haryana, Delhi and a few other locations. Read more
12:53 pm: Market update
Sensex falls 259 points to 57,279 and Nifty loses 73 points to 17,241. Of 30 Sensex stocks, 17 are trading in the red.
12:46 pm: Sectoral gainers and losers
BSE midcap and smallcap indices rise 75 points and 38 points, respectively. Banking shares are the top sectoral losers with BSE bankex falling 217 points to 41,451 and BSE healthcare index is the top sectoral gainer, rising 214 points to 24,375 in the afternoon session.
12:23 pm: Top Sensex losers
Bharti Airtel, Kotak Bank, Maruti, Asian Paints, HDFC and M&M are the top Sensex losers, falling up to 1.93%. Of 30 Sensex stocks, 15 are trading in the red.
12:22 pm: Market check
Sensex fell 203 points to 57,785 and Nifty lost 41 points to 17,274.
12:05 pm: Market check
The benchmark indices were trading lower amid volatility. Sensex slipped over 150 points to 57,837 and Nifty fell over 43 points to 17,272. Bharti Airtel and Kotak Mahindra Bank were the top losers on Sensex, followed by Asian Paints, Maruti Suzuki, HDFC and M&M.
11:40 am: RailTel shares climb 4% after firm secures work order from Rail Vikas Nigam
Shares of RailTel Corp gained 4% today after the firm said it has received work order worth Rs 11.57 crore from Rail Vikas Nigam (RVNL).
RailTel Corp stock zoomed 4.07% to Rs 93.25 against the previous close of Rs 89.60 on BSE today. The shares have gained after two days of consecutive fall. A total of 1.90 lakh shares of the firm changed hands, amounting to a turnover of Rs 1.73 crore. Market cap of the firm rose to Rs 2,923.75 crore on the BSE.
The stock trades higher than 5 day moving averages but lower than 20 day, 50 day, 100 day and 200 day moving averages.
RailTel Corp shares fell 33.85% in one year and lost 21.77% since the beginning of this year. The stock hit a 52-week low of Rs 90.89 on April 22, 2021 and a 52-week high of Rs 230.14 on October 14,2021.
"RailTel Corporation of India Ltd has received work order from Rail Vikas Nigam Limited (RVNL) for installation of RailTel's MPLS-VPN services for 5 years at various locations of RVNL for an amount of Rs 11.57 crore (Including GST)," the firm said in a communication to the bourses.
11:15 am: Indian Hotels stock gains 3% as Rs 2,000-crore QIP opens
Stock of Indian Hotels gained 3 per cent after the Tata Group-backed firm launched a qualified institutional placement (QIP) of shares today to raise close to Rs 2,000 crore from qualified institutional buyers.
Indian Hotels stock rose 2.99 per cent to Rs 215 against the previous close of Rs 208.75 on BSE today. The shares have gained 13.63 per cent in the last four days. Indian Hotels stock zoomed 86.95 per cent in one year and risen 16.96 per cent since the beginning of this year.
A total of 1.20 lakh shares of the firm changed hands, amounting to a turnover of Rs 2.55 crore. Market cap of the firm rose to Rs 27,848 crore on the BSE.
The stock hit a 52-week low of Rs 90.89 on April 22, 2021 and a 52-week high of Rs 230.14 on October 14,2021. According to reports, Tata Sons, the parent firm of Indian Hotels Company (IHCL), is looking to cut its stake by up to 8 per cent in the hotel major through the QIP route.
10:40 am: Hero MotoCorp shares in focus
The Income Tax Department has conducted raids at the Hero MotoCorp Chairman and Managing Director Pawan Munjal's residence and office. Searches are underway at his residence and office in Gurgaon since morning. I-T department officials are also conducting searches at premises lined to other top officials of the company.
10:15 am: Indiabulls Housing Finance stock rises 3% on nod to raise Rs 50K crore via bonds
Shares of Indiabulls Housing Finance rose 3 per cent in early trade today after the board on March 22 cleared raising of funds up to Rs 50,000 crore, through issue of secured and/or unsecured non-convertible debentures and bonds on private placement basis.
Indiabulls Housing Finance stock touched an intraday high of Rs 159.20, rising 3.07 per cent against the previous close of Rs 154.45 on BSE. The stock has gained after 2 days of consecutive fall.
Indiabulls Housing Finance shares trade higher than 5 day and 20 day moving averages but lower than 50 day, 100 day and 200 day moving averages. The midcap stock has lost 26 per cent in one year and fallen 27.8 per cent since the beginning of this year.
A total of 1.59 lakh shares of the firm changed hands, amounting to a turnover of Rs 2.50 crore. Market cap of the firm rose to Rs 7,337 crore on the BSE.
Read: Indiabulls Housing Finance stock rises 3% on nod to raise Rs 50K crore via bonds
9:40 am: Paytm shares jump 3%
Shares of Paytm were trading 3 per cent higher at Rs 562 after the company clarified in a late-night BSE filing that its business fundamentals remain robust and that they have no information that may have a bearing on its share price.
The clarification comes after the exchange sought a clarification from the company on the sharp fall in its share prices. Paytm stock had hit fresh lows on Tuesday.
9:16 am: Market opening
The benchmark indices opened sharply higher amid positive global cues. Sensex jumped over 388 points to 58,377.46 and Nifty also opened 89 points higher at 17,405.05.
HDFC Bank was the top gainer on Sensex, advancing over 1 per cent, followed by UltraTech Cement, M&M, Axis Bank, Bajaj Finserv and Tata Steel.
Bharti Airtel was the only stock trading in the red.
8:50 am: Pre-market comment by Mohit Nigam, Head - PMS, Hem Securities
Benchmark Indices are expected to open on a positive note as suggested by trends on SGX Nifty. US stock markets ended positive on Tuesday after Treasury yields marched higher on Tuesday, as investors digested the increased likelihood of swift interest rate hikes following hawkish comments from the US Federal Reserve. NASDAQ was up by 1.95% to 14108.82 levels.
Asian markets are trading on a positive note as investors are looking out for oil prices and continue to assess the outlook for U.S. Federal Reserve monetary policy.
Oil prices edged lower on Tuesday after it looked unlikely that European Union nations would agree to join the United States in a Russian oil embargo in retaliation for its invasion of Ukraine.
On the technical front, 17,200 and 17,500 are immediate support and resistance in Nifty 50. For Bank Nifty 36,000 and 37,000 are immediate support and resistance respectively.
8:40 am: Global Updates
Treasury yields marched higher on Tuesday, bringing US stocks with them, as investors digested the increased likelihood of swift interest rate hikes following hawkish comments from the US Federal Reserve. The Nasdaq led Wall Street's main indexes higher, rising nearly 2%, as investors bought the dip in technology stocks, including Apple Inc, Microsoft Corp, Amazon.com Inc, Meta Platforms Inc and Alphabet Inc.
The Dow Jones Industrial Average rose 254.87 points, or 0.74%, to 34,807.86 and the S&P 500 gained 50.63 points, or 1.13%, to 4,511.81.
Shares in Japan led gains in Asia-Pacific during Wednesday morning trade, as investors monitored oil prices and continued to assess the outlook for U.S. Federal Reserve monetary policy.
The Nikkei 225 rose 2.59% as shares of SoftBank Group jumped 8.03%. The Topix index advanced 1.98%.
8:35 am: FII and DII action
Foreign institutional investors (FIIs) bought shares worth Rs 384.48 crore on March 22, and domestic institutional investors (DIIs) sold shares worth Rs 602.05 crore, as per provisional data available on NSE.
8:30 am: SGX Nifty
The Indian equity market is likely to open higher today as SGX Nifty was trading 70 points higher at 17,450.50.
The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.
8:15 am: Market on Tuesday
Benchmark indices Sensex and Nifty recovered from early fall to end over 1 per cent higher on Tuesday, led by heavy buying in index heavyweight Reliance Industries, Infosys and TCS amid a rally in global equities.
Sensex closed higher by 696.81 points or 1.22 per cent at 57,989.30. It touched a high of 58,052.87 and a low of 56,930.30 in intra-day trade. The index rallied 760.38 points or 1.32 per cent during the day.
Nifty rallied 197.90 points or 1.16 per cent to end at 17,315.50.
Tech Mahindra, Reliance Industries, Bajaj Finserv, ITC, TCS, Indusind Bank, Kotak Mahindra Bank, Infosys and Power Grid were the top Sensex gainers, rising up to 3.83%.
Hindustan Unilever Limited, Nestle India, NTPC, and Sun Pharma were only losers on Sensex falling up to 2.81%.
Good afternoon!
Benchmark indices ended lower in volatile trade today despite opening in the green today. Sensex ended 304 points lower at 57,684 and Nifty fell 70 points to 17,245. Of 30 Sensex stocks, 18 ended in the red.
Earlier, Indian market opened sharply higher amid positive global cues. Sensex jumped over 388 points to 58,377.46 and Nifty also opened 89 points higher at 17,405.05.
HDFC Bank was the top gainer on Sensex, advancing over 1 per cent, followed by UltraTech Cement, M&M, Axis Bank, Bajaj Finserv and Tata Steel.
The indices recovered from an early fall to end over 1 per cent higher on Tuesday, led by heavy buying in index heavyweight Reliance Industries, Infosys and TCS amid a rally in global equities.
Sensex closed higher by 696.81 points or 1.22 per cent at 57,989.30. It touched a high of 58,052.87 and a low of 56,930.30 in intra-day trade. The index rallied 760.38 points or 1.32 per cent during the day.
Nifty rallied 197.90 points or 1.16 per cent to end at 17,315.50.
What's next? Here are the latest updates.
3:30 pm: Market ends in red
Sensex ends 304 points lower at 57,684 and Nifty falls 70 points to 17,245.
3:12 pm: Expert Quote
Vijay Dhanotiya, Lead of Technical Research at CapitalVia Global Research said, "The market witnessed profit booking after it failed to resist above the level of 17,400. As of now, the short-term technical condition of the market shows that the expected range of the market is likely to be between 17000 and 17400. While it is subject to further price action evolution, our research suggests it is prudent to wait for a decisive breakout above 17400 and technical factors to improve before going long in the market. Technical indicators suggest a volatile movement in the market."
2:50 PM: Kotak Mahindra Bank buys 7.84% stake in Open Network for Digital Commerce
Private sector lender Kotak Mahindra Bank said it has acquired 7.84 per cent stake in Open Network for Digital Commerce (ONDC) for Rs 10 crore. "Bank has acquired 7.84 per cent shareholding in ONDC through subscription of 10,00,000 Equity Shares of face value of Rs 100 each," Kotak Mahindra Bank said in a regulatory filing.
Through this acquisition, the lender said it "wishes to participate in the creation of infrastructure to develop and transform the Indian digital commerce ecosystem". ONDC was incorporated in India on December 30, 2021.
2:13 pm: Adani Power board approves merger of six entities with itself
Adani Power said its board has approved an amalgamation scheme for the merger of its six wholly owned subsidiaries with itself. "The Board of Directors of Adani Power Ltd at its Meeting held on March 22, 2022, approved, subject to requisite approvals/consents, the Scheme of Amalgamation of various wholly-owned subsidiaries of the company," a BSE filing said. READ MORE
1:45 PM: Ruchi Soya FPO to open tomorrow; here's what brokerages have to say
Edible oil and food products majors Ruchi Soya Industries is set to launch its follow-on public offering (FPO) on Thursday to garner Rs 4,300 crore. The company has fixed a price band of Rs 615-650 for the public offer. The issue will close on March 28. Brokerages on Dalal Street gave subscribe rating to the issue for the listing and long-term gains. Read More
1:15 pm: Expert Quote
Sahaj Agrawal, Head of Research- Derivatives at Kotak Securities said, "Nifty witnessed strong recovery in recent times. Currently we see strong resistance at 17650 levels for the Nifty50; failure to cross the same can invite selling pressure. For the short term expect range bound movement at 17000-17500. FMCG, IT remain in momentum while the high beta space is expected to remain volatile."
12:57 pm: Hero MotoCorp stock falls 4% after I-T dept conducts raids at Pawan Munjal's residence, office
Hero MotoCorp share falls up to 3.82% to Rs 2328.85 against the previous close of Rs 2421.30 on BSE. The decline in stock came amid reports that the Income Tax Department has conducted raids at the Hero MotoCorp Chairman and Managing Director Pawan Munjal's residence and office. Searches are underway at his residence and office in Gurgaon since morning. I-T department officials are also conducting searches at premises lined to other top officials of the company.
These searches have been conducted as part of a tax evasion investigation against India's largest two-wheeler manufacturer, as per Income Tax department officials. As part of this raid, I-T officials searched premises located across Gurugram, Haryana, Delhi and a few other locations. Read more
12:53 pm: Market update
Sensex falls 259 points to 57,279 and Nifty loses 73 points to 17,241. Of 30 Sensex stocks, 17 are trading in the red.
12:46 pm: Sectoral gainers and losers
BSE midcap and smallcap indices rise 75 points and 38 points, respectively. Banking shares are the top sectoral losers with BSE bankex falling 217 points to 41,451 and BSE healthcare index is the top sectoral gainer, rising 214 points to 24,375 in the afternoon session.
12:23 pm: Top Sensex losers
Bharti Airtel, Kotak Bank, Maruti, Asian Paints, HDFC and M&M are the top Sensex losers, falling up to 1.93%. Of 30 Sensex stocks, 15 are trading in the red.
12:22 pm: Market check
Sensex fell 203 points to 57,785 and Nifty lost 41 points to 17,274.
12:05 pm: Market check
The benchmark indices were trading lower amid volatility. Sensex slipped over 150 points to 57,837 and Nifty fell over 43 points to 17,272. Bharti Airtel and Kotak Mahindra Bank were the top losers on Sensex, followed by Asian Paints, Maruti Suzuki, HDFC and M&M.
11:40 am: RailTel shares climb 4% after firm secures work order from Rail Vikas Nigam
Shares of RailTel Corp gained 4% today after the firm said it has received work order worth Rs 11.57 crore from Rail Vikas Nigam (RVNL).
RailTel Corp stock zoomed 4.07% to Rs 93.25 against the previous close of Rs 89.60 on BSE today. The shares have gained after two days of consecutive fall. A total of 1.90 lakh shares of the firm changed hands, amounting to a turnover of Rs 1.73 crore. Market cap of the firm rose to Rs 2,923.75 crore on the BSE.
The stock trades higher than 5 day moving averages but lower than 20 day, 50 day, 100 day and 200 day moving averages.
RailTel Corp shares fell 33.85% in one year and lost 21.77% since the beginning of this year. The stock hit a 52-week low of Rs 90.89 on April 22, 2021 and a 52-week high of Rs 230.14 on October 14,2021.
"RailTel Corporation of India Ltd has received work order from Rail Vikas Nigam Limited (RVNL) for installation of RailTel's MPLS-VPN services for 5 years at various locations of RVNL for an amount of Rs 11.57 crore (Including GST)," the firm said in a communication to the bourses.
11:15 am: Indian Hotels stock gains 3% as Rs 2,000-crore QIP opens
Stock of Indian Hotels gained 3 per cent after the Tata Group-backed firm launched a qualified institutional placement (QIP) of shares today to raise close to Rs 2,000 crore from qualified institutional buyers.
Indian Hotels stock rose 2.99 per cent to Rs 215 against the previous close of Rs 208.75 on BSE today. The shares have gained 13.63 per cent in the last four days. Indian Hotels stock zoomed 86.95 per cent in one year and risen 16.96 per cent since the beginning of this year.
A total of 1.20 lakh shares of the firm changed hands, amounting to a turnover of Rs 2.55 crore. Market cap of the firm rose to Rs 27,848 crore on the BSE.
The stock hit a 52-week low of Rs 90.89 on April 22, 2021 and a 52-week high of Rs 230.14 on October 14,2021. According to reports, Tata Sons, the parent firm of Indian Hotels Company (IHCL), is looking to cut its stake by up to 8 per cent in the hotel major through the QIP route.
10:40 am: Hero MotoCorp shares in focus
The Income Tax Department has conducted raids at the Hero MotoCorp Chairman and Managing Director Pawan Munjal's residence and office. Searches are underway at his residence and office in Gurgaon since morning. I-T department officials are also conducting searches at premises lined to other top officials of the company.
10:15 am: Indiabulls Housing Finance stock rises 3% on nod to raise Rs 50K crore via bonds
Shares of Indiabulls Housing Finance rose 3 per cent in early trade today after the board on March 22 cleared raising of funds up to Rs 50,000 crore, through issue of secured and/or unsecured non-convertible debentures and bonds on private placement basis.
Indiabulls Housing Finance stock touched an intraday high of Rs 159.20, rising 3.07 per cent against the previous close of Rs 154.45 on BSE. The stock has gained after 2 days of consecutive fall.
Indiabulls Housing Finance shares trade higher than 5 day and 20 day moving averages but lower than 50 day, 100 day and 200 day moving averages. The midcap stock has lost 26 per cent in one year and fallen 27.8 per cent since the beginning of this year.
A total of 1.59 lakh shares of the firm changed hands, amounting to a turnover of Rs 2.50 crore. Market cap of the firm rose to Rs 7,337 crore on the BSE.
Read: Indiabulls Housing Finance stock rises 3% on nod to raise Rs 50K crore via bonds
9:40 am: Paytm shares jump 3%
Shares of Paytm were trading 3 per cent higher at Rs 562 after the company clarified in a late-night BSE filing that its business fundamentals remain robust and that they have no information that may have a bearing on its share price.
The clarification comes after the exchange sought a clarification from the company on the sharp fall in its share prices. Paytm stock had hit fresh lows on Tuesday.
9:16 am: Market opening
The benchmark indices opened sharply higher amid positive global cues. Sensex jumped over 388 points to 58,377.46 and Nifty also opened 89 points higher at 17,405.05.
HDFC Bank was the top gainer on Sensex, advancing over 1 per cent, followed by UltraTech Cement, M&M, Axis Bank, Bajaj Finserv and Tata Steel.
Bharti Airtel was the only stock trading in the red.
8:50 am: Pre-market comment by Mohit Nigam, Head - PMS, Hem Securities
Benchmark Indices are expected to open on a positive note as suggested by trends on SGX Nifty. US stock markets ended positive on Tuesday after Treasury yields marched higher on Tuesday, as investors digested the increased likelihood of swift interest rate hikes following hawkish comments from the US Federal Reserve. NASDAQ was up by 1.95% to 14108.82 levels.
Asian markets are trading on a positive note as investors are looking out for oil prices and continue to assess the outlook for U.S. Federal Reserve monetary policy.
Oil prices edged lower on Tuesday after it looked unlikely that European Union nations would agree to join the United States in a Russian oil embargo in retaliation for its invasion of Ukraine.
On the technical front, 17,200 and 17,500 are immediate support and resistance in Nifty 50. For Bank Nifty 36,000 and 37,000 are immediate support and resistance respectively.
8:40 am: Global Updates
Treasury yields marched higher on Tuesday, bringing US stocks with them, as investors digested the increased likelihood of swift interest rate hikes following hawkish comments from the US Federal Reserve. The Nasdaq led Wall Street's main indexes higher, rising nearly 2%, as investors bought the dip in technology stocks, including Apple Inc, Microsoft Corp, Amazon.com Inc, Meta Platforms Inc and Alphabet Inc.
The Dow Jones Industrial Average rose 254.87 points, or 0.74%, to 34,807.86 and the S&P 500 gained 50.63 points, or 1.13%, to 4,511.81.
Shares in Japan led gains in Asia-Pacific during Wednesday morning trade, as investors monitored oil prices and continued to assess the outlook for U.S. Federal Reserve monetary policy.
The Nikkei 225 rose 2.59% as shares of SoftBank Group jumped 8.03%. The Topix index advanced 1.98%.
8:35 am: FII and DII action
Foreign institutional investors (FIIs) bought shares worth Rs 384.48 crore on March 22, and domestic institutional investors (DIIs) sold shares worth Rs 602.05 crore, as per provisional data available on NSE.
8:30 am: SGX Nifty
The Indian equity market is likely to open higher today as SGX Nifty was trading 70 points higher at 17,450.50.
The Singapore Stock Exchange is considered to be the first indication of the opening of the Indian market.
8:15 am: Market on Tuesday
Benchmark indices Sensex and Nifty recovered from early fall to end over 1 per cent higher on Tuesday, led by heavy buying in index heavyweight Reliance Industries, Infosys and TCS amid a rally in global equities.
Sensex closed higher by 696.81 points or 1.22 per cent at 57,989.30. It touched a high of 58,052.87 and a low of 56,930.30 in intra-day trade. The index rallied 760.38 points or 1.32 per cent during the day.
Nifty rallied 197.90 points or 1.16 per cent to end at 17,315.50.
Tech Mahindra, Reliance Industries, Bajaj Finserv, ITC, TCS, Indusind Bank, Kotak Mahindra Bank, Infosys and Power Grid were the top Sensex gainers, rising up to 3.83%.
Hindustan Unilever Limited, Nestle India, NTPC, and Sun Pharma were only losers on Sensex falling up to 2.81%.