Markets end higher amid high volatility; Pharma, IT, Realty sectors outperform

8 Mar 2022 , 03:45 PM

Equity benchmark indices closed higher in a volatile trading session amid strong selling pressure seen in metal stocks. The benchmark BSE Sensex jumped 581 points or 1.10% to close at 53,424; while the broader NSE Nifty moved 150 points or 0.95% higher to settle at 16,013. Both the indexes swung between gains and losses before settling in green.

The BSE Sensex rebounded from day’s low to close in the green as favorable exit-poll resultsof state-election turned investors optimistic. Also, major global markets were also trading in the green while Asian stocks continued to trade negative on fear of global inflationary pressure due to ban on Russia’s oil exports.

Among sectors, except metals all other sectoral indices ended in the green with pharma, IT, FMCG, realty indices up 1-2% each. BSE midcap and smallcap indices rose over 1% each

The overall market breadth stood strong as 2,193 shares advanced while 1,069 shares declined on the BSE.

Indian Oil, Sun Pharma, Tata Consumers, Cipla and TCS were the major gainers on the Nifty50, whereas Hindalco, ONGC, Tata Syee;, JSW Steel and Britannia settled in the red.