Markets end bullish; Sensex logs biggest single-day gain in 1-year, Nifty 50 over 17,350; IT, Banking, Consumer Durables outperform

15 Feb 2022 , 04:01 PM

Indian markets logged a stellar performance today with benchmark Sensex recording its biggest single-day gain in one year. A broad-based buying spree across sectoral indices with IT, Banking and Consumer Durables stocks outperforming.

On Monday, Sensex settled at 58,142.05 up by 1736.21 points or 3.08%, while Nifty 50 climbed 509.65  points or 3.03% to 17,352.45.

Investors appetite for equities turned bullish as tensions between Russia & Ukraine is de-escalating and hopes for peace influenced positive sentiments that led to a slowdown in the rise of crude oil prices and further indicated the recovery in global equities.

In terms of sectoral indices, on BSE, the IT index surged over 1,025 points, while the Bankex and Consumer Durables skyrocketed by nearly 1,460 points and 1,280 points. All sectoral indices were in the green with upside ranging from 1-3.5%.

Bajaj Finance, SBI, Bajaj Finserv, L&T, Titan, Wipro, Asian Paint, Kotak Bank, M&M, Tech Mahindra, Bharti Airtel, Reliance Industries, Infosys, IndusInd Bank, Maruti Suzuki, HDFC Bank and Axis Bank were top performers surging between 3-5%.

All stocks listed on Sensex settled higher.

On BSE, the MidCap and SmallCap indexes gained by 3% and 2%. Sensex Next 50 topped 1,330 points.

Markets defied concerns about inflationary pressure in India. CPI Inflation has increased to seven months high of 6.01% in January – breaching the upper tolerance limit of RBI’s inflation target in the medium term.