Closing Bell: Sensex up nearly 300 points, Nifty50 above 17000-mark amid volatility – pharma, IT and banking stocks shine
The benchmark indices surged around 0.5 per cent after a gap-up opening. Pharma stocks along with IT and financial stocks jumped most in the trade contributing most to the markets.
The Indian markets on the last Monday of 2021 closed in the green as both the benchmark indices surged around 0.5 per cent after a gap-down opening. Pharma stocks along with IT and financial stocks jumped most in the trade contributing most to the markets.
At the market close, the BSE Sensex jumped 296 points or 0.52 per cent to 57420, while Nifty50 gained over 82.5 points or 0.49 per cent to 17,086. Following the benchmarks suite, the broader markets too soared as mid-cap closed nearly 0.5 per cent and small cap up marginally 0.2 per cent.
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Nifty Bank, one of the key contributors to Nifty50, also closed 223 points or 0.64 per cent to 35080-level, led by private lenders such as ICICI Bank and Kotak Mahindra Bank.
As many as 39 stocks advanced and 11 declined on Nifty50 at the close. Tech Mahindra continued to be at the top position, up around 3.5 per cent, followed by Cipla, Dr Reddy’s each up over 2 per cent. While UPL, Kotak Bank, SBI Life, ICICI Bank, Sun Pharma and HDFC each gained over 1 per cent.
On the contrary, Hindalco declined most by nearly 1.5 per cent, followed by ONGC down over 1 per cent. While Britannia, IndusInd Bank, Maruti each down between 0.5-0.8 per cent at the close.
Sectorally, many of them closed in the green except for FMCG and Metal each down marginally. Nifty Pharma closed almost 2 per cent, followed by Banking and Financials each up 0.6 and 1 per cent respectively.
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05:53 PM IST