Equities continue gains, settle marginally up
Mumbai, January 17, 2022
The Indian equity indices -- S&P BSE Sensex and NSE Nifty50 -- extended their gaining streak from the past week and settled marginally higher on Monday.
Notably, with Monday's gains, indices have traded on a positive note for six out of the past seven sessions. On Friday, the indices traded steady.
Return of foreign portfolio investors (FPIs) into the Indian equity segment as well as expectations of strong quarterly earnings likely supported the market sentiment, analysts opined.
On Monday, the Sensex and Nifty settled at 61,308 points and 18,308 points, up 0.14 per cent and 0.29 per cent from their previous close, respectively.
Among the sectoral indices, Nifty auto and realty rose the most while Nifty pharma and bank declined during the session, NSE data showed.
"Auto stocks shined in a flat trading session on the back of price hikes, thrust on electric vehicles and ETF launches in the sector as the basket of stocks posted smart gains," said S. Ranganathan, Head of Research at LKP securities.
"The 'Commodity Index' provided good support in afternoon trade buoyed by earnings. The broader markets witnessed profit taking in pharma stocks with investors interest seen in footwear stocks."
On the stocks front, Hero Motocorp, Grasim Industries, ONGC, Tata Motors, and Ultratech Cement rose the most, rallying 5.1 per cent, 3.5 per cent, 3.2 per cent, 2.9 per cent, and 2.7 per cent, respectively.
HCL Technologies, HDFC Bank, Cipla, Axis Bank and Britannia, on the other hand, declined the most during the session.