Sensex Exceeds 60,000, Nifty Crosses 18,000: Nifty PSU Bank Soars, Pharma Cracks
By Malvika Gurung
Investing.com — After recording its worst week in six months, the Indian benchmarks made a positive opening in the last week of 2022, trading on a firm note on Monday, led by a rally on banking, auto and metal stocks.
At the time of writing, headline indices rose 1.07%, jumping to 18,004.95 earlier in the day and surged 1.11% or 664.33 points, reclaiming the psychologically significant 60,000 mark, trading at 60,502 levels. The market volatility barometer slipped 0.71% to 16.05.
Most stocks traded higher on the Nifty50 index, led by IndusInd Bank (NS:), Tata Motors (NS:), Tata Steel (NS:), Eicher Motors (NS:) and Hindalco (NS:), among others, while heavyweights including Coal India (NS:), SBI (NS:), ITC, Adani Enterprises (NS:) and Larsen & Toubro (NS:) extended support to the market.
Reversing the previous session’s trend, pharmaceutical stocks were the worst performers on Monday, as giants like Dr. Reddy’s Laboratories Ltd (NS:), Divi’s Laboratories Ltd. (NS:), Cipla (NS:) and Sun Pharmaceuticals (NS:) led the losses.
Barring and , all sectoral indices under the Nifty umbrella gained in the session, led by a whopping 4.8% rally in , followed by and . surged 1.52%.
Indian market indices followed their Asian peers, as , and advanced up to 0.72% on Monday.
