MARKET UPDATE:Sensex soared over 650 points to 55,350, and the Nifty topped 16,550, gaining 200 points


Published On: Wednesday, July 20, 2022 | By:

MARKET UPDATE:Sensex soared over 650 points to 55,350, and the Nifty topped 16,550, gaining 200 points

The Indian markets, uplifted by the reduction in windfall tax on fuel exports and oil output, sharply edged higher today(20 July 2022) led by Reliance and ONGC, which rose 3-5 percent. The BSE Sensex soared over 650 points to 55,350, and the NSE Nifty50 topped 16,550, gaining 200 points. The broader markets also sat in green. The BSE MidCap and SmallCap indices were up to 0.9 percent higher. Among sectors, Nifty IT, metals, and oil & gas packs rose the most by 1.8 percent each. All other pockets also sat with firm gains of up to 1 percent. Rallis India fell 2 percent in a strong market reporting an 18.1 percent decline in Q1FY23 net profit at Rs 67.47 crore when compared with Rs 82.42 crore in Q1FY22. Uplifted by the reduction in windfall tax on fuel exports and oil output, x sharply edged higher on Wednesday led by Reliance and ONGC, which rose 3-5 percent.

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