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HomeBusinessSensex up 296 points, Nifty crosses 17,050 points

Sensex up 296 points, Nifty crosses 17,050 points

Mumbai, Dec 27 (PTI) The BSE Sensex closed with a gain of 296 points on Monday. Stocks of ICICI Bank, HDFC Ltd., HDFC Bank and Tech Mahindra, which have strong shares in the index, gained in the market with gains in the market.

The 30-share Sensex rose 960 points from the day’s lowest level during trading and finally closed at 57,420.24 points, up 295.93 points, or 0.52 per cent. Similarly, the Nifty of the National Stock Exchange gained 82.50 points, or 0.49 percent, to close at 17,086.25.

Tech Mahindra was the top gainer with Sensex shares rising over three per cent. Besides, Dr. Reddy’s, PowerGrid, Kotak Bank, Sun Pharma, ICICI Bank and Mahindra & Mahindra also gained.

On the other hand, losers included IndusInd Bank, Asian Paints, Maruti and Bharti Airtel.

Narendra Solanki, Head of Equity Research (Fundamental) Anand Rathi said, “Indian market opened in losses amid mixed trend in Asian markets. This is due to growing concerns about Omicron amid reduced business due to the holiday.

In the afternoon trade, the market recovered with gains in health, industrial and capital goods companies.

Solanki said, “Businessmen were encouraged by the words of a member of the Monetary Policy Committee (MPC). He has expressed hope that capital investment will increase for the next few quarters and the economic growth rate will be better in the next financial year as well.

In other markets in Asia, Shanghai Composite in China, Cospi in South Korea and Nikkei of Japan ended with losses, while Hong Kong’s Hang Seng edged up.

Major markets in Europe were mixed in afternoon trade.

Meanwhile, international oil benchmark Brent crude rose 0.01 per cent to $75.78 a barrel.

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