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Sensex Reclaims 60,000 Mark, Nifty Trades Above 17,900; Banking & Finance Stocks Surge
Wed, 5 Jan 02:30 pm

Sensex Reclaims 60,000 Mark, Nifty Trades Above 17,900; Banking & Finance Stocks Surge

After opening the day on a choppy note, share markets in India have extended early gains and are presently trading higher.

Benchmark indices extended gains and are trading near day's high with Sensex reclaiming 60,000 mark while Nifty is above 17,900.

The rally comes amid a fresh round of Covid-19-related curbs across the nation that kept investors cautious.

The market rally is driven by gains in banking stocks, finance stocks and metal stocks.

Bajaj twins - Bajaj Finserv and Bajaj Finance - are the top gainers, up 5% and 4%, respectively.

Meanwhile, Kotak Mahindra Bank, Axis Bank, HDFC Bank and ICICI Bank also gained 2-4%.

Passenger vehicle retail sales in India witnessed an 11% year-on-year decline in December 2021 as semiconductor shortage continued to impact the segment, automobile dealers' body FADA said today.

Currently, the BSE Sensex is trading up by 432 points, up 0.7%, at 60,300 levels.

Meanwhile, the NSE Nifty rose above the 17,900-mark and is trading up by 125 points.

Broader markets are also trading in green. The BSE Smallcap index is up 0.1% while the BSE Midcap index gained 0.4%.

Shares of Greaves Cotton are in focus today after the company's EV arm reported strong December sales. With today's gain, the stock has surged as much as 25% in the first three days of the new year.

Greaves Cotton's e-mobility arm Greaves Electric Mobility on Sunday said it sold over 10,000 units in December 2021.

In his latest video for Fast Profits Daily, Brijesh Bhatia talks about the two sectors for 2022.

Last year, Brijesh had said his top sectoral pick for 2021 was metals. This sector beat the Nifty handsomely. At one point, it was up 90% in 2021.

So, what about 2022? Which sector will outperform? Brijesh answers this question in the below video.

More details to follow in the upcoming commentary.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

Read the latest Market Commentary


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