MARKET UPDATE: Sensex rose 600 points to 53,570, and Nifty climbed above 16,000
Published On: Tuesday, May 17, 2022 | By: Team KnowMyStock
In Indian markets, the key benchmark indices extended gains in early deals today(17 May 2022). The BSE Sensex rose 600 points to 53.570, and the NSE Nifty climbed above 16,000. Meanwhile, LIC is listed at Rs 867.20 on the BSE, a discount of 8.6 percent as against the issue price of Rs 949. The stock touched a low of Rs 860.10, and then recovered and rallied to a high of Rs 920. At 10:13 AM, the stock traded at Rs 897.50 with around 1.28 million shares has exchanged hands on the BSE. In the broader markets, the BSE MidCap and SmallCap indices also opened in the positive territory, rising up to 0.7 percent.
Sector-wise, Metal, Energy, Power, PSU and Bankex indices held strong gains on the BSE, up 1-2 per cent. While, IT and Pharma indices were subdued.
Among stocks, GSK Pharma rose 1.3 per cent, despite reporting a consolidated net loss of Rs 55 crore from continuing operations for the March quarter (Q4FY22). While, its revenue rose to Rs 810 crore vs Rs 744 crore in the year-ago period.
Raymond gained 2 per cent after the company posted a profit of Rs 265 crore in the March quarter as against Rs 59 crore a year ago. Revenue rose 44 per cent year-on-year to Rs 1,958 crore.
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