PowerGrid, IOC, ONGC, ITC Share Surge As Sensex Ends 384.74 Points Higher

On the Nifty, Powergrid, IOC, ONGC, ITC and Bajaj Finance were among the top gainers, while Divi's Lab, JSW Steel, Bharti Airtel, Sun Pharma, and Ultratech Cement fell the most.

Outlook Web Desk

Updated on: 23 December 2021 10:29 am

PowerGrid, IOC, ONGC, ITC Share Surge As Sensex Ends 384.74 Points Higher

Indian equities closed higher for the fourth straight day on Thursday, led by gains in IT, Realty, and PSU Bank stocks.

The 30-share index jumped 384.72 points or 0.68 per cent to end at 57,315.28. Similarly, the NSE Nifty advanced 117.15 points or 0.69 per cent to 17,072.60.

On the Nifty, Powergrid, IOC, ONGC, ITC and Bajaj Finance were among the top gainers, while Divi's Lab, JSW Steel, Bharti Airtel, Sun Pharma, and Ultratech Cement fell the most, according to a report published in Mint.

All sectoral indices ended in the green with Realty, IT, PSU Bank up 1-3 er cent. Meanwhile, 21 of 30 Sensex stocks ended in the green.

According to a Business Standard report, one of the major highlights of the day's trade was the sparkling debut of?Medplus?Health Services. The stock started trading on the?BSE?at Rs 1,015 - a hefty permium of 27.5 per cent to its issue price of Rs 796, and went to scale a high of Rs 1,143. The stock eventually ended Day 1 of trades at Rs 1,119 - a premium of 40.5 per cent to its issue price.

The broader markets also ended with smart gains. The BSE Midcap index advanced a per cent, while the Smallcap index added 0.7 per cent. The overall breadth too was extremely positive, with advancing shares outnumbering declining stocks in almost 2:1 ratio on the BSE.

In the meantime, Narendra Solanki, Head- Equity Research (Fundamental), Anand Rathi Shares & Stock Brokers, was quoted by Financial Express as saying, “Indian markets opened in green following positive Asian market peers as investors reacted to studies about omicron reduced risk of hospitalization and severe disease with omicron compared to delta."

During the afternoon session markets continued their firm trade. Additional support came as rating agency ICRA stated that profitability of sugar, fertiliser and dairy sectors will remain stable in FY22, with only three months left to close the financial year 21-22., he added.

Elsewhere in Asia, bourses in Shanghai, Hong Kong, Tokyo and Seoul ended with gains.

Stock exchanges in Europe were also trading on a positive note in mid-session deals.

Meanwhile, international oil benchmark Brent crude slipped 0.08 per cent to $75.22 per barrel.