MARKET UPDATE: Sensex rose 800 points to 56,540, while Nifty climbed 250 points to reclaim the 16,900-mark
Published On: Thursday, May 5, 2022 | By: Team KnowMyStock
In a sharp reversal to yesterday's losses, the key benchmark indices extended opening gains today(5 May 2022) tracing robust global sentiment after the US Fed's in-line rate hikes. The BSE Sensex rose 800 points to 56,540, while the NSE Nifty climbed 250 points to reclaim the 16,900-mark. On the Sensex-30, Infosys, ICICI Bank, RIL, HDFC twins, and SBI led the upward move. Tata Steel, Tech M, Wipro, M&M, Kotak Bank, Axis Bank, and IndusInd Bank were the other notable gainers. The BSE MidCap and SmallCap indices also opened firmly in the positive territory, up to 0.9 percent higher.
Sectorwise, Nifty Metals, Banks, Financials, IT and Auto were all leading the gains, up 1-2 per cent. On the other hand, FMCG and consumer durable packs were subdued.
Stocks of Havells India fell around 2 per cent. The consumer electrical goods maker on Wednesday reported a 16.01 per cent increase in its consolidated net profit to Rs 352.48 crore for Q4, while its revenue was up 32.55 per cent to Rs 4,426.26 crore during the period. While, stocks of ABB India rose 7 per cent after it posted an over two-fold jump in its net profit to Rs 370 crore in the March quarter compared to the year-ago period mainly on the back of higher revenues.
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