Sensex and Nifty firm up their gains for the third session; IT, financial stocks rally


Continuing its winning run for the third session in a row, the BSE benchmark Sensex added another 221 points to revisit the 60,500 level on Tuesday, helped by buying mostly computer and financial stocks.

After the initial hiccups, the 30-stock benchmark held steady throughout the session and hit the day’s high of 60,689.25. He finally finished 221.26 points, or 0.37% more, at 60,616.89.

Likewise, the NSE Nifty gained 52.45 points or 0.29% to finish at 18,055.75.

On the Sensex chart, HCL Tech, HDFC, Tech Mahindra, TCS, RIL, Sun Pharma and SBI were the main winners, increasing up to 4.3%.

In contrast, Tata Steel, Bajaj Finance, ITC, Asian Paints and Kotak Bank were among the laggards.

VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said: “The expected good third quarter results from financial services, in particular leading banks, IT, metals, telecommunications and petroleum and of gas stimulate the current dynamics of equities. Elsewhere in Asia, stock markets saw slight to massive selloffs as investors became cautious noting the increase in Omicron cases in China.

On the forex front, the rupee closed 14 paise higher at 73.91 (tentative) against the US dollar.

Foreign Institutional Investors (FIIs) were net sellers in the capital market as they unloaded shares worth Rs 124.23 crore on Monday, according to stock data.


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