Key indices further soar on global cues
Investors shrug off Omicron fears on reports that suggest lower impact of the new variant on economic recovery; Encouraging exports data further strengthens mkt sentiment
image for illustrative purpose
Mumbai: Equity benchmarks defied gravity for the third session on the trot on Tuesday, in tandem with a rally in global markets as investors shrugged off soaring Omicron cases in multiple countries. Strong domestic trade data further added to the buying momentum despite a depreciating rupee, traders said.
The 30-share BSE Sensex opened with significant gains and saw further consolidation as the trade progressed. It finally closed at 59,855.93, clocking a gain of 672.71 points or 1.14 per cent. Likewise, the NSE Nifty rose 179.55 points or 1.02 per cent to end at 17,805.25.
"Tracking strong momentum of global peers, domestic bourses witnessed a smooth sail, steered by index heavyweights and gains in financials and consumer durables. Despite surging Covid cases, investor sentiments remain positive globally as reports suggest lower impact of the new variant on economic recovery. However, India's unemployment rate rose to 7.9 per cent in December as compared to 7 per cent in November owing to muted economic activity in rural and urban India amid rise in Omicron cases," said Vinod Nair, head (research) at Geojit Financial Services.
