Advertisement
Tuesday, Jan 18, 2022
Outlook.com
Outlook.com

Sensex Rallies 639 Points; Nifty Tops 15,800

The 30-share BSE index ended 638.70 points or 1.22 per cent higher at 52,837.21, while the broader NSE Nifty surged 191.95 points or 1.23 per cent to 15,824.05

Sensex Rallies 639 Points; Nifty Tops 15,800
Infosys, ICICI Bank and Reliance Industries amid a positive trend in global markets, while HUL, Asian Paints, Bajaj Auto and M&M were the laggards | Representational Image
Sensex Rallies 639 Points; Nifty Tops 15,800
outlookindia.com
2021-07-22T16:30:35+05:30

Equity benchmark Sensex rallied 639 points on Thursday, propelled by index majors Infosys, ICICI Bank and Reliance Industries amid a positive trend in global markets.

The 30-share BSE index ended 638.70 points or 1.22 per cent higher at 52,837.21, while the broader NSE Nifty surged 191.95 points or 1.23 per cent to 15,824.05.

Tech Mahindra was the top gainer in the Sensex pack, jumping over 5 per cent, followed by Bajaj Finance, Bharti Airtel, Bajaj Finserv, L&T, Tata Steel and Infosys.

On the other hand, HUL, Asian Paints, Bajaj Auto and M&M were the laggards. According to Milind Muchhala, Executive Director, Julius Baer, Indian markets have made a smart pull-back, supported by the positive global set-up and a decent start to the Q1FY22 earnings season.

"Markets are clearly rewarding the stocks/sectors where the earnings momentum is strong (such as IT - especially midcap IT, cement, metals) or where growth visibility remains good (such as chemicals, healthcare, etc.).

“Moreover, with the flurry of IPOs, which are seeing a very healthy response from investors, the related sectors are seeing interest due to benchmark valuations. Also with the headline index remaining steady at elevated levels, the broader market (Midcaps/Smallcaps) continues to witness a lot of excitement/participation," he said.

Elsewhere in Asia, bourses in Shanghai, Hong Kong, Seoul and Tokyo ended with strong gains. Equities in Europe were also trading on a positive in mid-session deals.

Meanwhile, international oil benchmark Brent crude advanced 1 per cent to USD 72.95 per barrel.

Advertisement

Outlook Newsletters

Advertisement
Advertisement
Advertisement

Read More from Outlook

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

Lament Of Separation: Songs Of Habba Khatun, Last Queen Of Kashmir, Still Echo In Valley

In happy times and sad, Habba Khatun’s sensuous songs make both young and old emotional. With the never-ending conflict bringing tragedies to every doorstep, Habba’s lyrics of separation amplify their mourning.

How Indian Laws Govern People’s Right To Love And Live

How Indian Laws Govern People’s Right To Love And Live

In India, only those relationships between a man and a woman are considered to be legitimate when there is a marriage between the two.

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Kohli Quits Test Captaincy, Leaves Leadership Vacuum

Virat Kohli, 33, had recently stepped down as India's T20I captain and was subsequently removed as the ODI captain.

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

UP Elections 2022: How Congress Is Harnessing Power Of 'Persecuted' Women To Counter BJP

A Mahila Congress leader, who is the face of the ‘Ladki Hoon, Lad Sakti Hoon’ campaign, however, has accused the party of anti-women bias after she was denied a ticket.

Advertisement