Share Market Updates: Sensex zooms 1000 points, Nifty above 17,150; banking stocks shine

Benchmark indices were trading higher in afternoon session today, led by gains in banking and auto stocks. Sensex rose 1000 points to 57,754.58 and Nifty was trading 278 points higher at 17,190.95.

Kotak Mahindra Bank, ICICI Bank, Axis Bank, and Tata Steel were among the top Sensex gainers, rising up to 3 per cent in afternoon trade.

Dr Reddy's and Asian Paints were the only Sensex losers.

Of the 30 Sensex shares, 28 were trading higher.

BSE mid-cap and small-cap indices rose 230 points and 280 points, respectively.

Benchmark indices ended the session on a negative note on Monday as Asian markets sinked following Chinese property developer Evergrande's warning that it may run out of money.  A rise in the number of positive cases of Omicron variant to 21 in India led to a crash in equity market for the second consecutive session.

Sensex plunged 1,009 points to 56,687 in the last 15 minutes of trade and Nifty lost 305 points to 16,891. Later, Sensex recovered minor losses to end 949 points lower at 56,747 and Nifty closed 284 points lower at 16,912.

Foreign institutional investors (FIIs) sold shares worth Rs 3,361.28 crore on December 6, and domestic institutional investors (DIIs) bought shares worth Rs 1,701.56 crore, as per provisional data available on NSE.