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Closing Bell: Sensex jumps 385 points, Nifty at 17,050; ITC leads

Closing Bell: Sensex jumps 385 points, Nifty at 17,050; ITC leads

Closing Bell: Sensex jumps 385 points, Nifty at 17,050; ITC leads
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By CNBCTV18.com Dec 23, 2021 3:45:57 PM IST (Updated)

The Indian equity benchmark indices closed higher for the third straight day as concerns related to the Omicron variant of coronavirus seemed to ebb.

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The 30-scrip Sensex closed at 57,315, as it rose 385 points and the Nifty50 index surged over 95 points to end at 17,050. The broader markets supported the rally as both mid-caps and small-caps rallied a percent higher. The market breadth favours the advances, with two stocks rising for every one stock that slipped.
Among sectoral gauges, a strong rally was seen in IT, FMCG, realty indices, while media, metal indices ended in the red. Nifty consumer durables and oil & gas indices also closed over a percent higher.
Among the 50 stocks on Nifty, Power Grid, IOC, ONGC, ITC, and Bajaj Finance led the gains, as each scrip rose over 2 to 3.5 percent. Leading the losses were JSW Steel, Divi's Lab, Bharti Airtel, Sun Pharma, and Maruti.
Globally, shares extended a recent rally while safe-haven bonds and currencies eased as markets welcomed signs that the Omicron variant of COVID-19 might be less severe than feared, as well as robust U.S. economic data.
The STOXX index of Europe's 600 largest shares rose 0.3 percent, following earlier gains in Asia. Japan's Nikkei gained half a percent and MSCI's broadest index of Asia-Pacific shares outside Japan surged nearly 1 percent.
Oil prices seesawed early Thursday. Brent crude futures and US West Texas Intermediate (WTI) crude futures edged down 0.25 percent, after posting gains earlier in the day.
With inputs from Reuters
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