At the close of market hours, the Sensex was up 186.24 points or 0.52% at 36,254.57, while the Nifty was higher by 47.60 points or 0.44% at 10910.10.
It’s a strong start to the New Year for equities as bulls took complete charge in the last hour of trade. The Nifty reclaimed 10,900-mark setting it on track to move towards 11,000 as well. Meanwhile, the Sensex ended above 36,000-mark.
Barring auto and consumption sectors, all other sectors ended in the green. HDFC Group twins and ICICI Bank supported the rally.
The session had a tepid start as indices opened around the flat terrain, but weakness soon gripped the market. The Sensex fell over 100 points, while the Nifty tested 10,800.
Lack of adequate global cues along with less volumes ensured that somber trade continued. However, there was a sharp recovery in the last hour, courtesy a sharp surge in financials.
At the close of market hours, the Sensex was up 186.24 points or 0.52% at 36,254.57, while the Nifty was higher by 47.60 points or 0.44% at 10910.10. The market breadth was narrow as 1,437 shares advanced, against a decline of 1,091 shares, while 147 shares were unchanged.
Bharti Airtel and HDFC were the top gainers, while M&M, Tata Steel, and Hindalco lost the most.
Stocks in the News
Share price of JMC Projects rose 4 percent after the company bagged orders worth Rs 596 crore.
Atul Auto surged 20 percent as company reported healthy sales numbers for the month ended December 2018.
Centrum Capital shares gained 5 percent after the company completed acquisition of supply chain finance business from L&T Finance.
Kolte-Patil Developers shares surged 9 percent after rating agency CRISIL revised long term outlook on company's bank loan facilities.
CMI shares climbed 3 percent after it secured a contract for supply of cadmium catenary wire.All major global markets have been shut on account of New Year’s Day.