BSE Sensex makes strong start in the new year

    0
    27

    Indian bourses have made a good beginning in the new year. After closing up on Monday, the first session of the year, the BSE 30-share index, the Sensex shot up 300 points in the morning session. The NSE 50-share Nifty also climbed, going above the 4700 mark. Nifty’s rise reflected a gain of 88 points over the previous day’s close.

    Asian markets have been moving up by about 1 to 2% since the new year. ICICI, SBI, and HDFC all rallied smartly. The ICICI climbed 3% while the SBI rallied 2%. HDFC Bank rose 1.44% while HDFC rose 1.7%.

    Tata Motors and Coal India were among the most impressive performers in the Sensex 30 list with Tata Motors gaining an impressive 3.7% while Coal India climbed 4.3%.

    Largecaps like Infosys, RIL, TCS, ONGC and Bharti Airtel, all made gains between 1.3% and 1.6%. The broader market was up 1.2% each, and the market breadth was strong with 3.5 shares advancing for the loss of every one.

    Capital goods companies L&T and BHEL rose 2.5%. While FMCG giants like ITC and HUL were up between 1.2-1.8%.

    Bajaj Auto and M&M were the only losers in an otherwise strong market rally. They fell 0.9 and 1.4% respectively.

    Broader markets also gained with the BSE 500 index soaring over 1.75%. The BSE midcap index rose 1.42% while the BSE smallcap index was ruling 1.55% higher.

    All 13 sectoral indices on the BSE were in the green.

    The market breadth was positive with 1,576 stocks advancing, compared to 454 on the decline. Another 73 remained unchanged.

    Majority of the Asian markets were closed on account of holidays. Hong Kong’s Hang Seng moved up 2.05 percent to trade at 18,812.69 points.