Closing Bell: Ahead of assembly election results, Sensex, Nifty surge over 2%

Closing Bell: Ahead of assembly election results, Sensex, Nifty surge over 2%

by 5paisa Research Team Last Updated: Dec 13, 2022 - 11:26 am 34.9k Views
Listen icon

Domestic equity bourses Sensex and Nifty jumped more than 2% after a positive start despite a mixed trend across global markets and rising oil prices.

In today's trading session investors globally remained cautious tracking newsflow on the Russia-Ukraine war, while in India all eyes are on the five state assembly election results to be declared tomorrow.

The Indian market surged for the second straight session on Wednesday led by strong buying interest in financial and automobile stocks. Also, a good action was seen in aviation stocks after the Indian Government lifted pandemic-related restrictions on international flights.

At the closing bell on March 9, the Sensex was up 1,223.24 points or 2.29% at 54,647.33, and the Nifty was up 331.90 points or 2.07% at 16,345.40. On the market depth, around 2585 shares have advanced, 681 shares declined, and 90 shares are unchanged.

Top Nifty gainers of the day were Asian Paints, Reliance Industries, Bajaj Finance, M&M and IndusInd Bank. On the flip side, Shree Cements, Power Grid Corporation, ONGC, NTPC and Coal India were the biggest losers. Among the buzzing stocks, Asian Paints was the top gainer as it surged 6.12% to Rs 2,890.

On the sectoral front, except metal, all other sectoral indices ended in the green with capital goods, auto and realty indices up 2-3%. In the broad market, the BSE smallcap and midcap indices gained 2% each.

Overall, Asian stocks struggled for footing as investors assessed the impact of a worsening conflict in Ukraine and the US ban on Russian oil. Ever since the war between the two neighbouring European countries broke out, the bond yields in India and the dollar/rupee combination have reacted sharply. Many economists concur that inflation is unlikely to be a temporary blip and expect it to continue in the medium term.

 

Also read: These stocks witness huge volume burst in the last leg of the trading session!

Share Market Today


How do you rate this article?

Start Investing in 5 mins*

Rs. 20 Flat Per Order | 0% Brokerage

378X91-D3

About the Author

Our research team is composed of some highly qualified research professionals, their expertise range across sectors.


Open Free Demat Account
Resend OTP
Please Enter OTP
Mobile No. belongs to

By proceeding, you agree to the T&C.

Latest News
Morgan Stanley Introduces Pre-IPO Share Trading for Clients: Stay Ahead!

Morgan Stanley, a well-known financial institution, is launching a new service through its wealth management division that's set to change the game for investors.

Platinum Industries IPO Lists at 31.58% Premium Over Issue Price

Strong listing for Platinum Industries IPO

Bajaj Auto's Rs4000 Cr Buyback opens 6-Mar-24! Know the Details

Bajaj Auto has increased its share buyback to ₹4,000 crore, starting on 6-Mar-24, and ending on 13-Mar-24.