Bulls Feast on Tech and Energy: Nifty Above 22,100, Sensex Crosses 76,000

15 Jan 2024 , 03:44 PM

Dalal Street witnessed a stellar day today, fueled by a potent cocktail of roaring tech stocks and buoyant oil & gas players. The benchmark Nifty 50 climbed to a fresh high, settling at 22097.50, a gain of 0.93%. Meanwhile, the Sensex soared by 760.75 points, or 1.05%, to end the day at 73327.94.

Tech Sector Leads the Charge:

The IT sector emerged as the undisputed champion of the day, surging an impressive 3.5%. Infosys spearhead the rally, jumping 5.0%, while HCL Tech followed suit with a 4.5% gain. TCS rose 2.7%, adding further weight to the tech momentum. This robust performance reflected optimism surrounding the global technology landscape and strong earnings outlook for Indian IT majors.

Oil & Gas Fuels the Fire:

The oil & gas sector joined the party, adding a healthy 2.2% to the overall gains. Reliance Industries, the heavyweight of the sector, rallied 2.4%, while Oil and Natural Gas Corporation (ONGC) advanced 3.5%. The upswing was fuelled by a rise in global crude oil prices due to concerns about supply disruptions and a weakening dollar.

Other Sectors See Mixed Momentum:

While the IT and oil & gas sectors shone brightly, other segments displayed a more mixed performance. The pharma and FMCG sectors witnessed modest gains, while metal stocks witnessed a slight dip. Broader markets also lagged behind the benchmark indices, with the Nifty Midcap 50 ending flat and the Nifty Smallcap 50 experiencing a minor decline.

1787 shares rallied, 1609 shares declined, and 78 shares remained unchanged.

Top gainers on the Nifty: Wipro, ONGC, HCL Technologies, Infosys, and Bharti Airtel led the charge.

Top losers on the Nifty: HDFC Life, Bajaj Finance, Bajaj Finserv, Hindalco Industries, and Eicher Motors faced headwinds.