Sensex gains 375 pts, ends above 48K as investors dump FMCG for financials
Published On: Thursday, April 22, 2021 | By: Team KnowMyStock
Today (22nd April 2021) from the day's low of 47,204, the benchmark S&P BSE Sensex bounced back over 900 points to hit a high of 48,143 on the back of a brisk buying in financial and metal counters. Supportive global cues and expectations that the mass vaccination drive would help curtail the raging second Covid-19 wave in the country gave ammunition to the bulls. By the close, the Sensex was at 48,081 levels, up 375 points or 0.79 percent. The broader Nifty50, on the other hand, gained 255 points higher from the day's low to settle at 14,406, up 110 points or 0.77 percent. About 18 of the 30 constituents on the Sensex and 27 of the 50 constituents on the Nifty ended the day in the green with Wipro, ICICI Bank, JSW Steel, Tata Steel, HDFC, Bajaj Auto, and BPCL topping the charts on the latter. On the Sensex, HDFC Bank, Bajaj Finance, Kotak Mahindra Bank, and SBI were the additional gainers. All these stocks were up in the range of 2 percent to 3.5 percent.
On the downside, Shree Cement, Titan, Tata Consumer Products, HUL, Nestle India, Asian Paints, and Ultratech Cement ended the day as top laggards on the Nifty, down up to 3 per cent.
Fund rotation was evident during the last hour of trade as banking counters turned winners from laggards on the NSE. From a low of 30,555 hit earlier in the day, the Nifty Bank index ended at 31,783, up 2.15 per cent. Meanwhile, the Nifty Financial Services, Private Bank, and Metal indices gained 2.2 per cent, 1.8 per cent, and 1.7 per cent, respectively.
On the contrary, pharma and IT stocks pared their gains and ended in the red today. All the three defensive indices -- Nifty IT, FMCG, and Pharma -- slipped up to 0.75 per cent on the NSE.
The broader markets, however, underperformed at the bourses with the S&P BSE MidCap and SmallCap indices closing 0.28 per cent and 0.59 per cent higher, respectively.
Tags: Indian markets sSensex Nifty FMCG finacials
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