Investors make Rs 3 lakh crore in 15 mins: Factors driving Sensex higher

Asia's Tech News Daily

sensex rally, sensex, sensex today, sensex today live, stock market latest news, share market news, stock market, nifty, nifty news

NEW DELHI: Domestic benchmark equity indices continued to build on gains and climbed further higher on Tuesday as more and more traders were convinced that the Omicron variant will not become as deadly as the Delta variant.

But some analysts still warned that the Omicron variant has introduced a high level of uncertainty around economic growth, inflation and market direction. WHO’s warning that it could fuel future surges of Covid-19 with severe consequences is a concern from the market’s perspective, they said.

“The underperformance of the Bank Nifty is a major trend in this market. This has the potential to reverse. Pharma, IT and telecom appear to be safe bets,” said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Equity investors’ wealth, reflected by the total market cap of BSE-listed companies, jumped by Rs 3.05 lakh crore to Rs 260 lakh crore.

How are bluechips doing

After opening in the green, benchmark indices rose further. At 10.32 am, BSE flagship Sensex was up 617 points or 1.08 per cent to 57,878. NSE benchmark Nifty added 172 points or 1.01 per cent to 17,226.

“On the technical front, the key resistance levels for Nifty50 are 17,215 followed by 17,380 and on the downside 16,840 followed by 16,620 can act as strong support. Key resistance and support levels for Bank Nifty are 36,440 and 35,420, respectively,” said Mohit Nigam, Head – PMS, Hem Securities.

In the 50-share pack Nifty, Power Grid was the biggest gainer, up 4.27 per cent. Tata Motors, Tech Mahindra, Axis Bank, Bajaj Finance, Bajaj Finserv and Wipro were among other gainers.

Hero MotoCorp was the top loser in the pack, down 0.17 per cent. Dr Reddy’s Laboratories, Britannia Industries, Adani Ports, M&M and HDFC Life Insurance were among those that traded in the red.

FACTORS DRIVING MARKETS

Hope and concerns: The World Health Organization (WHO) said on Monday the Omicron coronavirus variant carried a very high risk of infection surges, while border closures by more countries cast a shadow over economic recovery from the pandemic. But a South African infectious disease expert said existing vaccines should be effective at preventing severe disease from the variant.

Inflation to go down: US Federal Reserve Chair Jerome Powell said on Monday he continues to expect inflation to recede over the next year as supply and demand come into better balance, but warned that the new strain of COVID-19 muddies the outlook, and prices could continue to rise for longer than earlier thought.

Broader markets

Broader market indices were trading higher, outperforming their headline peers in morning trade. Nifty Smallcap was up 1.62 per cent while Nifty Midcap advanced 1.48 per cent. Broadest index on NSE, Nifty 500, was up 0.94 per cent.

Indian Hotels, Godrej Properties, Mindtree, PNB Housing Finance, Lux Industries and KPIT Tech were gainers from the space while Trident, Rossari Biotech, AstraZeneca, Pfizer, Ipca Labs and Dr Lal Pathlabs were under selling pressure.

Global markets

MSCI’s broadest index of Asia-Pacific shares outside Japan was 0.52 per cent higher on Tuesday. In Australia, the S&P/ASX200 was up 1.15 per cent while Japan’s Nikkei was trading 1.2 per cent higher early in the session.

Hong Kong’s Hang Seng Index underperformed, down 0.25 per cent while China’s blue chip CSI 300 index was up 0.13 per cent.

Internet Explorer Channel Network
Asia's Tech News Daily
News Related

OTHER NEWS

PNP: 310 new COVID-19 cases push total tally to 45,782

Philippine National Police building The Philippine National Police (PNP) on Monday said 310 new COVID-19 cases were recorded among its personnel, driving up the total tally to 45,782. Of this ... Read more »

New documents show census officials concerned about political interference from Trump's Commerce Department

Newly released documents appear to show top career officials at the Census Bureau had drafted a memo of concerns during the Trump administration’s attempts to exert political pressure on the ... Read more »

Reunion will have to wait, Lowry listed out for 'personal reasons' versus Raptors

MIAMI — The Toronto Raptors’ much-anticipated reunion with Kyle Lowry will have to wait a few weeks. © Provided by The Canadian Press The Miami Heat have listed Lowry out ... Read more »

Defer PG NEET '22: Students on clash of date

© Provided by The Times of India MUMBAI: Medical aspirants have demanded that the post-graduate NEET 2022 be postponed. To their surprise, the exam date was declared as March 12, ... Read more »

Seers hold 'revenge meet' over hate-speech arrests

© Provided by The Times of India HARIDWAR: The ‘pratikar yagya’ (revenge ceremony), which was organised by seers at the Sarvanand Ghat across Har-ki-Pauri on Sunday morning to protest police ... Read more »

Two 400-year-old spears of gold, copper missing from TN shrine

© Provided by The Times of India MADURAI: Two tiny spears of gold and copper that have been taken in an annual ritual procession from Karaikudi to the Palani temple ... Read more »

Pune: Conservation efforts to get a boost if forest dept takes over Salim Ali park

© Provided by The Indian Express There are very few cities in the country that can boast of having migratory birds from as far away as Europe, Siberia, China and ... Read more »

SP corporator writes to BMC, seeks reopening of gardens, playgrounds

© Provided by The Indian Express In a letter to the BMC commissioner, MLA from Samajwadi Party, and a corporator in the civic body, Rais Shaikh has requested the Mumbai ... Read more »

Seven arrested for alleged attack on policemen, two animal rights activists

© Provided by The Indian Express THE MUMBAI Police on Sunday arrested seven people who had allegedly attacked police personnel and two animal rights activists in the Kurla area on ... Read more »

On backburner for 5 years: Rs 837 cr cyber security project being revived in Maharashtra

© Provided by The Indian Express A CYBER Security project worth Rs 837 crore that had been approved by the Maharashtra government in 2016 and was meant to be a ... Read more »

Probe Deoband fatwas on kids: NCPCR to UP

© Provided by The Times of India NEW DELHI: Taking cognisance of a complaint regarding “fatwas” on the Islamic seminary Darul Uloom Deoband’s website, the National Commission for Protection of ... Read more »

Pimpri-Chinchwad: Over 1,400 children in home isolation, only 55 hospitalised

© Provided by The Indian Express EVEN as Health Minister Rajesh Tope said on Sunday that the government will take a call on reopening of schools after a fortnight, it ... Read more »

The best 12-button gaming mice

© Provided by Dot Esports 12 buttons may sound excessive, but the additional features can be lifesavers in games. That’s why there’s a legion of excellent 12-button gaming mice on ... Read more »

Some PS3 games have appeared for purchase on the PS5 store in Europe

© Provided by Dot Esports A handful of games originally released on the PlayStation 3 have started popping up on the PlayStation 5’s digital storefront with actual pricing options.  As ... Read more »

FedEX mahu pasang pesawat mereka dengan laser antipeluru berpandu

Syarikat penyedia perkhidmatan kargo FedEx telah menghantar permohonan kepada pihak berkuasa penerbangan Amerika Syarikat (FAA) untuk memasang kelengkapan antipeluru berpandu berasaskan inframerah pada beberapa pesawat kargo mereka. Peluru berbandu ada ... Read more »

Global banks handling FPI trades approach RBI as T+1 regime nears

Mumbai: Large multinational banks handling funds of offshore investors told the Reserve Bank of India (RBI) last week to either act as the “dollar buyer of the last resort” or ... Read more »

Nifty on course to all-time high, buy on dips to ride the rebound

Following last week’s gain of 2.5% in the Nifty, technical and derivative analysts expect the index to head towards 18,400- 18,500 in the coming days. The index is likely to ... Read more »

Banking sector frauds could surge over next 2 years

Mumbai: Deloitte has warned that frauds in the banking sector could rise significantly over the next two years due to the large-scale remote working model, increase in customers using non-branch ... Read more »

Boy, 13, dead from fentanyl overdose after '40 small bags of drugs found at Sports and Medical Science Academy'

A MIDDLE school student died on Saturday from a suspected overdose, according to police. The 13-year-old boy was hospitalized on Thursday morning after suffering an apparent fentanyl overdose at the ... Read more »

Police will NOT take action against trans activists who targeted JK Rowling

POLICE will not take action against trans activists who targeted Harry Potter author JK Rowling. Rowling claimed that her address was exposed when a photo of three campaigners outside her ... Read more »

Virginia's lawyer hits back at Andrew's ‘false memory' defence saying ‘you don't misremember sex abuse by a prince'

VIRGINIA Roberts Giuffre's lawyer has blasted Prince Andrew's “false memories” claim by saying “you don't misremember sex abuse by a prince”. In a civil suit, Ms Giuffre alleges she was ... Read more »

Cummins looks ahead to overseas challenges after Ashes triumph

Australia are confident a dominant Ashes series win can start “something big” as they hunt the away wins required to become the best Test side in the world. Pat Cummins ... Read more »

33yo woman falls onto walkway shelter in Boon Keng, dies from injuries

© The Independent Singapore Photo: FB screengrab/Sg-share together Singapore – A 33-year-old woman who fell onto a walkway shelter at Block 34 Whampoa West on Friday afternoon (Jan 14) passed ... Read more »

Moody's places all Citibanamex ratings, assessments on review for downgrade

© Reuters/EDGARD GARRIDO FILE PHOTO: A logo of Citibanamex is pictured in Mexico City MEXICO CITY (Reuters) – Ratings agency Moody’s Investors Service on Sunday placed all ratings and assessments ... Read more »

Credit Suisse Chairman Horta-Osorio resigns after board probe into breach of COVID-19 rules

© Reuters/Stefan Wermuth FILE PHOTO: Antonio Horta-Osorio speaks at the British Chambers of Commerce annual meeting in central London SINGAPORE (Reuters) -Credit Suisse Chairman Antonio Horta-Osorio, who was being investigated ... Read more »

Dimming Sun's rays should be off-limits, say experts

© JUAN BARRETO Scientists have long known that injecting a large quantity of reflective particles into the upper atmosphere could cool the planet Planetary-scale engineering schemes designed to cool Earth’s ... Read more »

No consequence: The accumulated irregular expenditure reaches R488-billion

In her annual report on audit outcomes for the 2020/21 financial year, Auditor-General Tsakani Maluleke reported that the accumulated sum of irregular government spending that has ‘not been either recovered, ... Read more »

N.Korea fires suspected ballistic missile - Japan

© Reuters/Denis Balibouse FILE PHOTO – A North Korean flag flies on a mast at the Permanent Mission of North Korea in Geneva SEOUL (Reuters) – North Korea fired on ... Read more »

PM ‘questioned by Sue Gray' as another claim of a No 10 party emerges

Boris Johnson has reportedly been interviewed as part of the investigation into partygate allegations as claims of another lockdown breach in No 10 surfaced. The Prime Minister is said to ... Read more »

US National Parks to waive entrance fees for MLK Day

National parks in the United States proved to be wildly popular in 2021. They set various attendance records with a pandemic-fatigued public looking for safe things to do. © Daniel ... Read more »

Property drought leaves each estate agency with just 12 houses to sell

The average estate agent branch has just 12 properties for sale amid a national drought of properties being put up for sale. © Provided by The Telegraph Weymouth is a ... Read more »

Estate agents only have a dozen homes for sale

The average estate agent branch has just 12 properties for sale amid a national drought of properties being put up for sale. © TMG Buying property – TMG Competition for ... Read more »

‘We should see much lower numbers by end of the month'

© Provided by The Indian Express Sandeep Juneja, Dean of School of Technology and Computer Science at the Tata Institute of Fundamental Research (TIFR), in an interview with Sanjana Bhalerao, ... Read more »

Boris Johnson-led UK govt plans to scrap Covid-19 self-isolation law: Report

© Provided by Hindustan Times Britain’s Prime Minister Boris Johnson attends Prime Minister’s Questions (PMQs) in the House of Commons in London. (AFP File Photo) The Boris Johnson-led government is ... Read more »

Truckers call on B.C. government to ensure dangerous highways cleaned

VANCOUVER — A group representing truck drivers is calling on the B.C. government to ensure highways are cleared of snow and dangerous potholes are fixed or goods will no longer ... Read more »

Cutting self-isolation period will not fix country's sick pay problem – TUC

More than 250,000 workers were self-isolating last month without decent sick pay or any sick pay at all, a new study has suggested. © PA Wire Frances O’Grady said more ... Read more »

Recruitment in financial services hits pre-pandemic levels, report finds

Recruitment in the City of London’s financial district hit levels not seen since before the pandemic in the final three months of 2021, according to new data. © PA Wire ... Read more »

Boris Johnson faces ‘burning deadline' to keep energy bills down as prices set to soar

Boris Johnson’s government faces a “burning deadline” in the next three weeks to decide how to offset a massive rise in household energy bills, the head of an energy company ... Read more »

Dave Chappelle regrets not responding to Bob Saget's last text message

© Provided by Cover Media Dave Chappelle Dave Chappelle feels bad he didn’t respond to Bob Saget’s last text message. The Full House actor and stand-up comedian died suddenly at ... Read more »

Australia leaves door open for Djokovic to play at next year's Open

© Reuters/LOREN ELLIOTT Novak Djokovic federal court hearing, in Melbourne SYDNEY (Reuters) – Australian Prime Minister Scott Morrison has left the door open for Novak Djokovic to compete at next ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic