Investors richer by over Rs 3.49 lakh cr as BSE-listed companies’ market-cap swells on first trading day of 2022
The BSE Sensex jumped over 929 points or 1.6 per cent to settle at 59,183-level at the market closing time, after hitting an intraday high of 59,266-mark and gaining by as much as 1,012.57.
Market Capitalisation of BSE-listed companies swelled by Rs 3,49,642.03 crore to reach Rs 2,69,49,853.58 crore on Monday - the first trading day of 2022. It carried on from the hight attained on the Friday, the last trading day of 2021.
The BSE Sensex jumped over 929 points or 1.6 per cent to settle at 59,183-level at the market closing time, after hitting an intraday high of 59,266-mark and gaining by as much as 1,012.57.
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Banking and financials lead the overall market to surge, as Bajaj Finserv became the top gainer on the Sensex, followed by Bajaj Finance, ICICI Bank, Tata Steel and IndusInd Bank.
Underperforming the benchmarks, the broader markets BSE midcap and small cap indices each gained as much as 1.19 per cent.
Santosh Meena, Head of Research, Swastika Investmart Ltd, said, “Indian equity market snub sharp rise in covid cases and begin 2022 on a cheerful note, wherein Bank Nifty witnessing the highest gain. There was a risk on sentiment today in the Indian equity market where the high beta sector outperformed defensive names.”
Besides, most of the auto stocks also did well today on the back of better-than-expected sales numbers where Eicher Motors outperformed while M&M ends into the red due to weak tractor sales numbers, the market analyst said in post market comment on Monday.
Technically, Nifty is giving a proper follow-up to the bullish morning star candlestick formation formed on the weekly chart and it also manages to close above the cluster of 100 and 50-DMA, Meena added in the note.
“The previous swing high of 17640 is an immediate hurdle however there is a good chance that Nifty may take out this level for a move towards the 18000-18200 zone. On the downside, 17500 will act as immediate and strong support as we have seen meaningful put writing at this level,” he added.
“In terms of cues, we don't have any major trigger tomorrow other than updates related to covid while the minutes of the US fed meeting will be out on Wednesday. If we look at the profile of the stocks which rallied today then we can expect some buying figures by FIIs,” Meena concluded.
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09:12 PM IST