Sensex up 153 pts on Monday amid buying in blue-chips

HCL Tech, TCS, Titan Company, Bajaj Finance, Bajaj Finserv, and Reliance Industries were other top gainers in the index. On the other hand, Sun Pharma, NTPC, Axis Bank, and Nestle were the top laggards, shedding 1-2% each. 

The BSE mid-cap and BSE small-cap indices fell 0.9% and 1.90%, respectively.

The domestic benchmark indices trimmed their early losses and ended in the positive territory on Monday, primarily led by buying interest in blue-chip stocks. However, concerns over the Omicron variant, weak global cues and sustained selling by foreign portfolio investors (FPIs) continued to weigh on the markets.

Of the 30 stocks on the BSE Sensex, 13 ended in the green on Monday. The BSE Sensex closed 153.43 points or 0.27% higher at 57,260.58. Similarly, the Nifty closed at 17,053.95, up 27.5 points or 0.16%. Kotak Mahindra Bank was the top gainer in the Sensex pack, advancing 2.92% after RBI approved LIC to increase the stake up to 9.9% in the bank.

HCL Tech, TCS, Titan Company, Bajaj Finance, Bajaj Finserv, and Reliance Industries were other top gainers in the index. On the other hand, Sun Pharma, NTPC, Axis Bank, and Nestle were the top laggards, shedding 1-2% each.

The BSE mid-cap and BSE small-cap indices fell 0.9% and 1.90%, respectively. In the overall market breadth, 966 scrip advanced, 2,435 scrip declined, and 174 remained unchanged on Monday.

“Indian markets opened in the red following Asian markets peers as investors across the globe monitored developments around new Covid variant Omicron, which triggered large sell-offs last Friday and muted today’s morning trade. During the afternoon session, markets recovered initial losses and maintained their upward momentum following gains in energy, TECK and IT stocks. Healthy buying was observed in blue-chip stocks,” said Narendra Solanki, head – equity research (fundamental), Anand Rathi Shares & Stock Brokers.

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