Financial, Bank Stocks Push Sensex 250 Points Up

Sensex Update: Domestic equities followed global suit and rose in early deals on Tuesday. The frontline S&P BSE Sensex index was at 55,800 levels, up 270 points. The Nifty50 index, on the other hand, quoted at 16,572 levels, up 76 points.

Financial, Bank Stocks Push Sensex Up

Sensex Update: The broader markets, too, gained in-line with benchmarks. The BSE MidCap index added 0.5 per cent while the BSE SmallCap index gained 0.27 per cent. Sectorally, the Nifty IT index rose 0.8 per cent and hit fresh record high of 34,258.

Infrastructure and capital goods-related stocks witnessed buying in Tuesday’s trade after the Finance Minister launched Rs 6 lakh crore asset monetisation plan on Monday, with an aim to fund the infrastructure projects over four years.

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Following this development, shares of IRB Infrastructure Developers jumped over 5 per cent, GMR Infrastructure added 2 per cent and Larsen & Toubro Ltd (LT) recovered following five days of bear hammering in the stock.

Financial, Bank Stocks Push Sensex Up

Shares of Kabra Extrusiontechnik (KET) soared 16 per cent to hit a record high of Rs 248.60 on the BSE in the intra-day trade on Tuesday after Battrixx, the company’s battery division, announced its association with WardWizard Innovations and Mobility. The stock surpassed its previous high of Rs 244.40, touched on August 18, 2021.

The NSE Nifty 200 Index has more than doubled from a March 2020 low — weathering alarming Covid-19 infection and death rates, strict lockdowns and slower economic growth — thanks to a massive liquidity boost from the central bank and foreign inflows. Gauges of small- and mid-cap shares have climbed a lot more amid the broad surge.

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Financial, Bank Stocks Push Sensex 250 Points Up via @marketinvestor
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