Sensex Rises Over 300 Points, Nifty Trades Above 17,180 On Global Cues

[sushmi]

Sensex Rises Over 300 Points, Nifty Trades Above 17,180 On Global Cues

The Indian equity benchmarks edged higher on Tuesday, December 28 led by gains in ONGC, Asian Paints, HCL Tech, along with positive global cues. As of 9:28 am, the Sensex was up 326.62 points at 57,746.86, while the Nifty gained 88,55 points to 17,174.80.
Almost all sectoral indices were trading in the positive territory. Nifty Bank index was up over half a per cent and Nifty Consumer Durables gained nearly one per cent. HCL Tech, Asian Paints, Axis Bank, Reliance Industries, PowerGrid Corporation of India, Tech Mahindra were among the top BSE Sensex gainers. On the other hand, Dr Reddy's Labs and Cipla were among the top losers.



On Wall Street, the Dow Jones Industrial Average rose 0.98 per cent, while the S&P 500 gained 1.38 per cent after hitting a record high during the session. The Nasdaq Composite added 1.39 per cent.

The S&P 500 ended at a record high on Monday after US retail sales data eased worries from the infectious Omicron coronavirus variant, which has forced thousands of flight cancellations and stranded cruise ships.

The pan-European STOXX 600 index rose 0.62 per cent, nearing its highest level in over a month.

In Asia, China reported its highest daily rise in local COVID-19 cases in 21 months as infections more than doubled in the northwestern city of Xian, its latest hotspot. The Japanese currency weakened as far as 114.935 yen per dollar for the first time since November 26, approaching the year-to-date low of 115.525.

In foreign exchange markets, the safe-haven US dollar was rangebound, despite a hawkish turn at the Federal Reserve this month that saw policymakers signal three quarter-point rate hikes in 2022. The dollar index fell 0.026 per cent, with the euro up 0.01 per cent to $1.1326.

In the crude market, U.S. crude recently rose 3.04 per cent to $76.03 per barrel and Brent was at $78.94, up 3.68 per cent on the day.

Source:  https://www.ndtv.com/business/share-market-live-updates-sensex-rises-over-300-points-nifty-trades-above-17-180-led-by-ongc-asian-paints-2675031