Sensex see a best first-day gain in 13 years, jumps 929 points to 59,000
Despite the Covid hitting hard and things looking unpredictable, the stock market witnessed a positive start to the year 2022 with Sensex experiencing the best first-day gain in the last 13 years. On Monday, the BSE Sensex jumped to 929 points or 1.6% to 59,000.
It seems like in the New Year, the third wave of deadly Covid 19 has hit India as there has been a constant rise in the number of cases including the new variant-Omicron. However, when it comes to the stock market, the beginning of 2022 looks positive as the Bombay Stock Exchange (BSE) Sensex, on Monday, witnessed a major jump of 929 points or 1.6 percent to 59,000. Reliance Industries contributed the most to this significant gain. This is the best jump of the first day in the last 13 years and the biggest increase since 2009 when the Sensex jumped about 2.6 percent.
The day’s session experienced banking and financials and metal stocks leading the market while healthcare stocks, despite the rising cases of the Omicron variant, witnessed selling pressure. Following this, the Bombay Stock Exchange’s financial, banking, and metal indices, all closed with gains of over 2% while the healthcare index closed a bit lower. Bajaj Finance ended as the top Sensex gainer, up with 3.5%, followed by Bajaj Finserv, ICICI Bank, and Axis Bank. On the other side, Dr. Reddy’s was down by 1.13%, accompanied by Mahindra & Mahindra, Tech Mahindra, and Nestle India. The Bank Nifty index closed at 2.65% higher at 36,421.
On Monday, the day’s session also made investors and traders richer by about Rs 2.5 lakh crores with the Bombay Stock Exchange’s market capitalization now reaching Rs 272.5 lakh crores.
Continue Reading on The India Saga.