Markets end higher for second straight day; all sectors close in green; HDFC stocks outperform

17 Mar 2022 , 04:08 PM

Domestic markets closed higher for the second straight day following global cues as U.S Fed raised interest rates on the expected lines, by 25 bps. Moreover, the markets also drew confidence from Fed chief Powel’s claim that the American economy is resilient to handle contractionary monetary policy. The recent rebound has certainly eased some pressure however lingering geopolitical tension combined with an uptick in the COVID case in China will continue to keep the participants on the edge.

The stock markets will remain closed on Friday on account of the “Holi” festival.

BSE Sensex jumped 1,047 points or 1.84 per cent to close at 57,864, while the broader NSE Nifty moved 312 points or 1.84 per cent higher to settle at 17,287.

Nifty Midcap and Nifty Smallcap were up by 1.4% and 1.2% respectively.

All sectoral indices ended in green except Nifty IT (-0.2%). Nifty Realty increased the most at 3.1% followed by Nifty Fin Service (+2.8%) and Nifty Auto (+2.2%).

HDFC was the top Nifty gainer, followed by Titan, JSW Steel, SBI Life and Reliance Industries.