MARKET UPDATE:Sensex rose 800 points to 56,575, while Nifty jumped 230 points to 16,893 levels in early deals
Published On: Wednesday, March 16, 2022 | By: Team KnowMyStock
The Indian benchmark indices opened sharply higher today(16th march 2022), with a strong recovery from the previous session's losses. The BSE Sensex rose 800 points to 56,575, while the Nifty 50 jumped 230 points to 16,893 levels in early deals. The strong start for the indices comes amid upbeat global sentiment as US stocks rose significantly overnight and Asian shares were also seen staging recovery from their two-day losses. On the Sensex, HDFC, IndusInd Bank, Axis Bank, Maruti, ICICI Bank, Bajaj twins, HDFC Bank, M&M, Asian Paints, and Wipro were leading the upmove, trading up to 3.5 percent higher. Grasim and Tata Motors were the additional gainers on the Nifty50.
On the flip side, Cipla, ONGC, and Sun Pharma were the sole losers on the bourses.
The broader markets were also in green, with the BSE MidCap and SmallCap indices trading up to 1.4 per cent higher.
The overall market breadth was positive with 2,182 advancing stocks on the BSE as against 404 declining ones. India VIX index also cooled off by 6 per cent to 25 levels.
Sectrorally, Nifty Bank, Auto, Realty, IT, and Consumer Durables were the winners, tradin 1-2 per cent higher. Others including Pharma, FMCG and Metals also held decent gains.
Among stocks, Dredging Corp of India was up over 5 per cent on the BSE. The company has signed a contract with Cochin Shipyard (Cochin) for construction of 12,000 cubic meter hopper capacity trailer suction hopper dredger for euro 104 million under the Make in India program.
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