The Sensex surged more than 277 points in early trade on Tuesday, reflecting broad optimism in global markets, headed by record-setting US equities.
The 30-share benchmark began with substantial gains and experienced additional consolidation as the trading continued, extending its winning streak.
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The Sensex was trading at 59,461.07 in early trade, up 277.85 points or 0.47%. Similarly, the NSE Nifty rose 80.40 points, or 0.46%, to 17,706.10.
The Sensex gained around 930 points in the previous session, which was also the first trading day of 2022, to conclude at 59,183, while the Nifty gained roughly 272 points to end at 17,626.
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On Tuesday, the Sensex chart’s top gainers were NTPC, PowerGrid, Axis Bank, SBI, Bajaj Finance, and RIL, which rose as high as 2.31%. On the other hand, shares of HCL Tech, Tech Mahindra, Wipro and Infosys were among the major laggards.
“US markets setting record highs on the first trading day of 2022 is auspicious for global stock markets. The spectacular 271 point rally in Nifty and FIIs turning buyers with net purchases worth Rs 703 crore are bullish signals,” V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said.
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Other Asian bourses were trading higher on Tuesday, mirroring record gains in US shares on the first trading day of 2022.
According to exchange statistics, foreign institutional investors (FIIs) were net purchasers in the capital market on Monday, purchasing shares worth Rs 575.39 crore.
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Meanwhile, Brent crude, the international oil standard, increased 0.27% to USD 79.19 per barrel. In early trade, the rupee falls 26 paise to 74.54 against the US dollar.
