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Sensex rises 1,000 pts for second session, Nifty ends above 17,250; consumer durables, banks lead gains

Sensex rises 1,000 pts for second session, Nifty ends above 17,250; consumer durables, banks lead gains

Sensex closed 1,047.28 points or 1.84 per cent higher at 57,863.93 and Nifty surged 311.70 points or 1.84 per cent to close at 17,287.05.

HDFC was the top Sensex gainer, rising 5.50 per cent, followed by Titan, Reliance, Kotak Bank, Asian Paints, Sun Pharma and Tata Steel. HDFC was the top Sensex gainer, rising 5.50 per cent, followed by Titan, Reliance, Kotak Bank, Asian Paints, Sun Pharma and Tata Steel.

Sensex surged past the 57,000-mark on Thursday, tracking a bullish trend in global equities despite the US Federal Reserve hiking rates. Sensex closed 1,047.28 points or 1.84 per cent higher at 57,863.93 and Nifty surged 311.70 points or 1.84 per cent to close at 17,287.05. Sensex and Nifty have closed higher for the second consecutive session amid positive global cues.

 In fact, Sensex has climbed over 1,000 points on each of these two trading days.

HDFC was the top Sensex gainer today, rising 5.50 per cent, followed by Titan, Reliance, Kotak Bank, Asian Paints, Sun Pharma and Tata Steel. Infosys and HCL Tech were the only Sensex losers, falling up to 1.81 per cent .

BSE mid-cap and small-cap indices gained 251 points and 322 points, respectively. On the sectoral front, consumer durables shares were the top gainers with the BSE consumer durables rising 1169.47 points to 43,967. Banking and auto goods shares also gained, with their BSE indices rising 829 points and 506 points, respectively.

Share Market updates: Sensex zooms 1,000 points, Nifty crosses 17,250; HDFC, Titan, RIL top gainers

However, BSE IT index fell 155 points to 35,562 and was the top loser among the top 19 BSE sectors. The market breadth was positive with 2,099 shares ending higher against 1,303 stocks in the red. 127 shares were unchanged. Market cap of BSE-listed firms rose to Rs 260.37 lakh crore.

Foreign institutional investors (FIIs) bought shares worth Rs 312 crore on March 16, and domestic institutional investors (DIIs) lapped up shares worth Rs 772.55 crore, as per provisional data available on NSE.

Benchmark indices Sensex and Nifty resumed their rally on Wednesday after a single-session fall as global markets awaited a widely anticipated decision by the US Federal Reserve on interest rate policy. Sensex closed at 56,816, higher by 1,039 points, and Nifty gained 312 points to 16,975.

Elsewhere in Asia, bourses in Tokyo, Seoul, Hong Kong and Shanghai ended with significant gains. Stock exchanges in Europe were trading on a mixed note in mid-session deals.

The US Federal Reserve on Wednesday cleared a 0.25 percentage point increase in interest rates, marking the first hike since 2018. It also indicated that more hikes would be needed to fight inflation. Meanwhile, international oil benchmark Brent crude rose 3.97 per cent to $101.91 per barrel.

Published on: Mar 17, 2022, 4:28 PM IST
Posted by: Aseem Thapliyal, Mar 17, 2022, 4:19 PM IST