Closing Bell: Nifty closes above 17, 600, Sensex near 59,200 on first trading session of 2022; banking & financial shares shine

Buoyed by buying interest from FIIs and mixed auto sales numbers, domestic equity market closed the first session of 2022 on a high note. Equity benchmarks Sensex and the Nifty surged more than 1.5% to close at 59,200 and 17,625.70. The benchmarks gained 271.65 points and 929.40 points at the closing.

"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. India’s Manufacturing PMI continued to be in the expansion zone at 55.5 in December supported by strong momentum in production and new orders, although the growth was slower on a sequential basis," said Vinod Nair, Head of Research at Geojit Financial Services.

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During the day's trading, the Sensex surged as high as 59,266.39, while the Nifty went past 17,600 to 17,646.65.

Except for Nifty pharma and Nifty healthcare, all broader market and sectoral indices closed higher on Monday.

The 12-share Bank Nifty too touched day's high of 36,492.10 before closing on 36,421.90, up 940.20 points or 2.65%. Federal Bank, Au Small Finance Bank, ICICI Bank and Axis Bank were the top gainers on Bank Nifty. 

Banking and financial shares were the lead gainers as Bajaj Finance, Bajaj FinServ, HDFC Bank, IndusInd Bank, Eicher Motors, ICICI Bank, Tata steel and ICICI Bank were the top gainers on the two indices.

Nestle India, Tech Mahindra, Dr Reddy's, Cipla and Mahindra and Mahindra were the top laggards.