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Markets gain for 3rd day as Omicron fears recede
Sensex surges 460 points & Nifty ends at 17,354
After a choppy start, domestic indices fell on profit-booking in 1st hour, but later gained ground owing to positive global sentiments; Nifty ends 0.66% higher in weekly F&O expiry
Mumbai: Equity indices mustered gains for the third session on the trot on Thursday. Energy, FMCG and infra counters witnessed buying amid a largely positive trend in global markets.
After a choppy start, the 30-share BSE Sensex gained momentum in afternoon trade to end 157.45 points or 0.27 per cent higher at 58,807.13. Similarly, the broader NSE Nifty climbed 47.10 points or 0.27 per cent to 17,516.85.
"Domestic indices surrendered to profit-booking in early session, but later gained ground owing to positive global sentiments. Investors are keenly awaiting the US inflation data in order to gauge the Fed's decision on rolling back economic stimulus," said Vinod Nair, head (research) at Geojit Financial Services.
Ajit Mishra, V-P (research), Religare Broking, adds: "Markets oscillated in a range on the weekly expiry day and finally ended marginally higher. All eyes will be on crucial macro data -CPI and IIP- which may further provide some direction to the markets. Meanwhile, the focus will remain on the global cues and updates regarding the new variant. We reiterate our cautious yet positive stance on the markets and suggest traders to focus on managing risk."
Foreign institutional investors (FIIs) remained net sellers in the capital market on Wednesday as they offloaded shares worth Rs 579.27 crore, as per exchange data.
ITC was the top performer in the Sensex pack, jumping 4.60 per cent, followed by L&T, Asian Paints, Reliance Industries, M&M, Bajaj Finance, Dr Reddy's and Infosys. On the other hand, HDFC Bank, Titan, Nestle India, NTPC, PowerGrid and TCS were among the laggards, tumbling up to 1.67 per cent.
Sectorally, BSE capital goods, FMCG, energy, telecom, industrials and oil and gas indices rose as much as 1.98 per cent, while bankex, finance, consumer durables and realty nursed losses. In the broader markets, the BSE midcap and smallcap indices ended up to 0.80 per cent higher.
