India’s Sensex settles 929 points up on first session of 2022

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New Delhi–┬áThe Indian equity indices — S&P BSE Sensex and NSE Nifty50 — continued their gaining streak from 2021 and settled high on Monday, the first trading session of 2022.

The Sensex and Nifty settled at 59,183 points and 17,625 points, respectively, up 1.6 per cent each from their Fridaya’s close.

During the session, barring Nifty healthcare and pharma, all sectoral indices traded in the green, while banking and auto stocks rose the most, NSE data showed.

Among the stocks, Coal India, Eicher Motors, Bajaj Finance, Tata Steel and ICICI Bank were some of the top gainers, rising 6.4 per cent, 4.7 per cent, 3.6 per cent, 3.5 per cent and 3.4 per cent, respectively.

On the other hand, Cipla, Dr Reddy’s, Mahindra and Mahindra, Divi’s Labs and Tech Mahindra shares declined the most. These stocks fell 1.3 per cent, 1.0 per cent, 0.8 per cent, 0.6 per cent, and 0.4 per cent, respectively, during the session.

“Domestic bourses kicked off the New Year on a strong footing supported by banking, auto and IT stocks, following positive cues from global markets. Auto stocks were in focus today as investors digested the mixed auto sales numbers amid the ongoing chip shortage,” said Vinod Nair, Head of Research at Geojit Financial Services.

According to S, Ranganathan, Head of Research at LKP Securities: “As India widens its vaccine coverage, bulls ushered in the New Year in style as Nifty Bank led the rally with good support from other sectoral indices, buoyed by positive global cues.

“The market breadth was extremely positive with a host of small and midcaps across sectors posting smart gains.”

In 2021, Sensex and Nifty rose nearly 22 per cent and 24 per cent, respectively, with around 50 companies going public on the exchanges. (IANS)


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