Sensex, Nifty Surge Amid Broad-Based Gains

Sensex and Nifty50 started today’s session on a positive note tracking gains across other Asian markets. Gains across sectors, led by financial, IT, metal and consumer stocks, pushed the headline indices higher.

Sensex, Nifty Surge Amid Broad-Based Gains

Sensex, Nifty Updates: Broader markets also strengthened, with teh Nifty Midcap 100 index up one percent and its smallcap counterpart up 1.7 percent in early deals. Apple supplier Foxconn’s plant near Chennai in southern India will remain shut this week following protests sparked by a food poisoning incident, government sources told Reuters on Tuesday. Five days of holidays have been declared at the plant, the Superintendent of Police in Kancheepuram said.

While hiring demand witnessed an uptick in the month of November across industries, some industries like shipping, FMCG and healthcare saw a marginal decline in e-recruitment activity on a month-on-month (MoM) basis. Aided by a recovery in economic activity post the second wave of COVID-19 pandemic, hiring demand across industries rose 9 percent in November 2021 compared to the same period a year ago, the Monster Employment Index showed.

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Alok Jain, Founder of WeekendInvesting.com, is positive on the metal, real estate and IT sectors. “These are the three sectors where we are also seeing a lot of picks coming into our momentum portfolios, and the ones that have moved out of favour have been pharma and some FMCG stocks because of inflationary pressures and the resulting price movements,” he said.

Sensex, Nifty Surge Amid Broad-Based Gains

Muthoot Finance expects gold loan growth of 15 percent for FY22, George Alexander Muthoot, the deputy managing director, Muthoot Finance told CNBC-TV18. “Gold loan demand has picked up in rural and semi-urban areas. The prospects seem to be okay, demand has picked up actually not only in the cities but also in the outlying areas outside the city also,” Muthoot added.

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Sensex, Nifty Surge Amid Broad-Based Gains via @marketinvestor
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