Sensex jumps 673 points; Nifty settles above 17,800 – Times of India

Sensex jumps 673 points; Nifty settles above 17,800 - Times of India

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NEW DELHI: Equity indices surged for the third straight session on Tuesday with the benchmark BSE sensex rising over 650 points led by gains in banking, financial stocks.
The 30-share BSE index jumped 673 points or 1.14 per cent to close at 59,856. While, the broader NSE Nifty settled 180 points or 1.02 per cent higher at 17,805.
NTPC, PowerGrid, SBI, Titan, Reliance and Axis Bank were the top gainers in the sensex pack rising as much as 5.48 per cent.
Whereas, Sun Pharma, IndusInd Bank, Ultra Cemco, Dr Reddy’s and Infosys were the only losers falling up to 1.09 per cent.
On the NSE platform, sub-indices Nifty PSU Bank, Oil & Gas and Financial Services gained as much as 1.24 per cent.
“Old economy stocks like banking and energy where valuations are decent seem to be the one that are doing well… crude oil prices have started correcting, and if this continues it will definitely be a positive for the energy sector,” Anita Gandhi, director, Arihant Capital Markets told news agency Reuters.
He further added that while the impact of the Omicron variant might not be as bad as the previous wave of infections, a certain sense of fear is now returning.
Meanwhile, foreign institutional investors (FIIs) were net buyers in the capital market on Monday, with purchase of shares worth Rs 575.39 crore, exchange data showed.



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