Start of the year 2022 with a bang equity investor Despite a rise in Omicron infections around the world, his wealth jumped by over Rs 5.36 lakh crore in the first two days of trading in the new year.
Indian stocks closed higher for the third consecutive session on Tuesday led by gains in banks, financials, power and energy stocks.
The Sensex closed 672.71 points or 1.14% higher at 59,855.93, while the Nifty closed 179.60 points higher at 17,805.30.
On Nifty, NTPC, ONGC, SBI, Power Grid and Titan Company were the top losers, while Tata Motors, Coal India, Sun Pharma, Tata Consumer Products and Shree Cements fell the most.
Rise in market capitalization of companies listed on BSE 5.36 lakh crore will reach in just two business sessions 2,71,36,351.46 crores.
Barring metals and pharma, all other sectoral indices were up 1% each among banks, oil and gas and power indices. The BSE Midcap index was flat and the Smallcap index rose 0.4%.
NTPC rose the most today at 5.48%. Midcap and smallcap indices jumped 0.39% in the broader market.
“Markets traded sharply and closed higher for the third day in a row. A strong opening led by upbeat global cues, further strengthened with healthy buying by energy, banking and IT majors.
Ajit Mishra, VP – Research, Religare Broking Ltd. said, “Markets are currently following their global counterparts, while domestic factors are showing mixed signs. Moreover, the earnings season is also nearing and it looks like the participants are going to lose their money. A positive trend is expected.” ,
In 2021, equity investors reap great rewards as their wealth grew by approx. 78 lakh crores.
During this, J. P. Morgan Analysts have said that the global stock market party is not over. Everything is falling for further gains in global stocks this year, according to strategists at JPMorgan Chase & Co.
“Stay fast – the positive catalysts don’t end there,” strategists led by Mislav Matezka wrote in a note to clients on Tuesday. Downside risks – including a sharp turn by central banks, a slowdown in China’s economy, or more significant coronavirus restrictions – will either fail to materialize or are already priced in stocks, he said.
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