MARKET UPDATE:Sensex rose 1,200 points to 55,815, while Nifty climbed 320 points to 16,668 level
Published On: Thursday, March 10, 2022 | By: Team KnowMyStock
The Indian key benchmark indices started on an upbeat note with a huge gap-up and extended their two-day gains, riding the rebound across global markets. The BSE Sensex rose 1,200 points to 55,815, while the NSE Nifty50 climbed 320 points to 16,668 levels. The front runners on the Sensex included Asian Paints, Axis Bank, SBI, HUL, Maruti, Ultractech Cement, up to 5 percent higher. Tata Motors was the additional top gainer on Nifty. Asian Paints logged the largest gains on the bourses as crude prices corrected sharply on Wednesday to $110 a barrel from the highs of $130. On the flip side, metals stocks were subdued as commodity prices including those of metals such as aluminum, nickel also have come off from their recent high levels. Tata Steel was the sole Sensex loser, down 0.4 percent, while ONGC, Hindalco, and Coal India were the top Nifty losers, up to 4 percent down.
In line with the upmove in benchmark indices, the broader markets also extended profits. The BSE MidCap and SmallCap indices rose up to 2 per cent.
From sectors, Nifty Bank, Auto, FMCG, Financials, and Realty were the leading gainers, trading 2-3 per cent up. Nifty Metal solely held losses of 0.8 per cent.
Among stocks, tyre players were seen rallying on the back of crude prices easing. Apollo Tyres, JK Tyres, Birla Tyres, Balkrishna Ind, CEAT and MRF were trading 1-4 per cent higher.
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