Benchmarks firm up gains for 3rd session; IT, fin shares rally

Update: 2022-01-11 17:55 GMT

Mumbai: Continuing its winning run for the third consecutive session, the BSE benchmark Sensex added another 221 points to revisit the 60,500-level on Tuesday, propped up by buying mainly in IT and financial shares.

After early hiccups, the 30-share benchmark remained poised throughout the session and went on to hit the day's high of 60,689.25. It finally ended 221.26 points or 0.37 per cent higher at 60,616.89.

Likewise, the NSE Nifty gained 52.45 points or 0.29 per cent to finish at 18,055.75.

HCL Tech topped the Sensex gainers' chart with a leap of 4.30 per cent, followed by HDFC, Tech Mahindra, TCS, RIL, Sun Pharma and SBI.

On the other hand, Tata Steel, Bajaj Finance, ITC, Asian Paints, Kotak Bank, Dr Reddy's and IndusInd Bank were among the laggards, dropping up to 3.32 per cent.

Sectorally, BSE power, utilities, IT, realty and teck indices emerged as top gainers -- climbing as much as 1.80 per cent.

In contrast, BSE metal index dropped over 2 per cent. Other laggards were telecom, FMCG and healthcare.

Broader midcap, smallcap and largecap indices underperformed the benchmark, gaining up to 0.30 per cent.

World markets were mixed as investors counted down to US Federal Reserve Chair Jerome Powell's appearance before a Senate panel where he is expected to outline the roadmap for rate hikes. Elsewhere in Asia, bourses largely saw mild to heavy selling as investors turned cautious amid rising Omicron cases in China. Markets in Europe were trading in the green in mid-session deals.

On the forex market front, the rupee closed 11 paise higher at 73.94 against the US dollar. Meanwhile, the dollar index, which measures the greenback's strength against the basket of six currencies, slipped 0.11 per cent to 95.88.

Foreign institutional investors (FIIs) were net sellers in the capital market, as they offloaded shares worth Rs 124.23 crore on Monday, according to stock exchange data.

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