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Sensex rises 776 points, Nifty ends above 17,400; IT, metal stocks top gainers

Sensex rises 776 points, Nifty ends above 17,400; IT, metal stocks top gainers

Sensex ended 776.50 points or 1.35 per cent higher at 58,461.29 and Nifty surged 234.75 points or 1.37 per cent to 17,401.65.

HDFC was the top  Sensex gainer climbing 3.92 per cent, followed by PowerGrid, Sun Pharma, Tata Steel, Tech Mahindra and Bajaj Finserv. HDFC was the top Sensex gainer climbing 3.92 per cent, followed by PowerGrid, Sun Pharma, Tata Steel, Tech Mahindra and Bajaj Finserv.

Indian market closed higher for the second consecutive session tracking gains in index majors HDFC twins, Infosys and TCS amid largely negative cues from global peers.

Sensex ended 776.50 points or 1.35 per cent higher at 58,461.29 and Nifty surged 234.75 points or 1.37 per cent to 17,401.65.

HDFC was the top  Sensex gainer climbing 3.92 per cent, followed by PowerGrid, Sun Pharma, Tata Steel, Tech Mahindra and Bajaj Finserv.

ICICI Bank, Axis Bank and UltraTech Cement were the only losers falling up to 0.78%.

"Irrespective of the weak sentiments in the international markets, domestic indices continued to rise due to gains in IT, financials and metal stocks amid strong domestic macroeconomic data," said Vinod Nair, Head of Research at Geojit Financial Services.

The Union government's fiscal deficit of 36.3 per cent of budget estimates in October, is better owing to improved revenue collection, he noted.

BSE mid-cap and small-cap indices rose 251  points to 25,186 and 313 points to 28,327, respectively.

Market cap of the BSE-listed firms rose to Rs 259.28 lakh crore today against Rs 257.17 lakh crore in the previous session.

On the sectoral front, IT, consumer durables and metal stocks led the gains. BSE IT index zoomed 650 points to 35,279, BSE metal index gained 279 points to 18,934, and consumer durables index gained 316 points to 43,198. All 19 BSE sectoral indices ended in the green.

The market breadth was positive with 2,185 shares ending higher against 1,065 stocks in the red. 150 shares were unchanged.

On Wednesday, Indian market closed higher, backed by gains in index heavyweights Reliance Industries, Maruti and SBI amid a positive trend in global markets. Sensex ended 619.92 points higher at 57,684.79 and Nifty surged 183.70 points to 17,166.90. IndusInd Bank was the top Sensex gainer, rising nearly 6 per cent, followed by Axis Bank, SBI, Maruti, Tech Mahindra and Reliance Industries.

Foreign institutional investors (FIIs) sold shares worth Rs 2,765 crore on December 1, and domestic institutional investors (DIIs) bought shares worth Rs 3,467 crore, as per provisional data available on NSE.

On the global front, Fed Chair's remarks stating a possibility of a faster end to the bond-buying programme and interest rate hike along with the first confirmed case of the Omicron variant in the US, triggered a fresh global sell-off.

Elsewhere in Asia, bourses in Hong Kong and Seoul ended with gains, while Shanghai and Tokyo were in the red.

Stock exchanges in Europe were trading with losses in mid-session deals.

International oil benchmark Brent crude rose 2.41 per cent to $70.53 per barrel.

Published on: Dec 02, 2021, 4:51 PM IST
Posted by: Aseem Thapliyal, Dec 02, 2021, 4:43 PM IST