MARKET UPDATE:Sensex up 500 points at 57,010, and Nifty past 17,100 level
Published On: Wednesday, April 20, 2022 | By: Team KnowMyStock
Today (20 April 2022) bulls made a comeback after a five-day losing run as heavyweight Reliance and IT stocks drove Sensex higher. In early deals, the Sensex was up 500 points at 57,010, and the NSE Nifty was past the 17,100 level. Reliance, Maruti, TCS, HDFC, Wipro, M&M, NTPC, Titan, Dr. Reddy's, Bharti Airtel, Tech M, Infosys, and Nestle were the top winners on the Sensex, up 1-3 percent. On the downside, Kotak Bank, PowerGrid, L&T, IndusInd Bank, Bajaj Finance, Axis Bank, NTPC, Tata Steel, Apollo Hospitals, HDFC Life, and ONGC were the top losers on the two indices.
Meanwhile,the broader markets opened in green. The BSE MidCap and SmallCap indices were up to 0.3 per cent higher.
Sectoral gainers were led by Nifty Auto, FMCG, Media, Realty, IT and Oil & Gas indices, each up 1 per cent. On the other hand, Nifty Bank and Financials were subdued.
Among stocks, ACC rose 1 per cent despite the company posting a 30 percent YoY decline in Q1CY22 profit at Rs 396 crore as operating income dropped 26 percent to Rs 635 crore due to a significant fuel cost increase.
On the downside, Mahindra Lifespace Developers slipped 2 per cent after its subsidiary Mahindra World City Developers received a Rs 102 crore income tax notice. The amount included interest of Rs 43.1 crore against the return of income filed for the assessment year 2016-17 by Mahindra World.
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