Markets on a rise; Sensex climbs 600 pts; IT stocks major gainers

27 Jun 2022 , 09:20 AM

Indian markets are on a bull run on Monday tracking sharp gains of global cues as worries over recession, US inflation pulls back and focuses on technology stocks’ economic growth emerges.

All sectoral indices were in the green with PSU Bank, Auto, financials, metal and IT stocks outperforming. 

At around 09.46 AM, the Sensex was trading at 53,334.55 up by 606.57 points or 1.15%. The 30-scrip index has touched a new 52-week high of 53,509.50 in the opening bell.

On Sensex, Tech Mahindra was the top gainer surging 4% followed by HCL Tech up 3.6%, Wipro advancing 2.5%, Infosys soaring 2.4% and Bajaj Finance strengthening by 2.2%.

Meanwhile, Nifty 50 was trading near the day’s high at 15,878.15 up by 178.90 points or 1.14%. The 50-scrip index climbed to an intraday high of 15,927.45.

On NSE, heavyweights L&T, JSW Steel, Hindalco, Sun Pharma, Tata Steel, Tata Motors further added to the winnings by gaining more than 1%.

Nifty IT soared around 3%, Nifty Metal jumped 1.8%, while Bank Nifty jumped by 1.2%. Nifty Pharma and Nifty PSU Bank climbed over 1% each. Nifty Realty, Nifty Media zoomed nearly 1% each.

In broader markets, India’s volatility index also soared by 2%.

On the global front, Asian markets opened in the green with across the board all indices trading in the green led by the ASX index which was up over 1.5%. The Japanese ‘Nikkei’ & Taiwan index also were gainers with indices up over 1.25%.