Stock market participants welcomed new year 2022 with a bang. The Indian equity benchmarks surged on the first trading session of the year with the Sensex rising as much as 1,012.56 points and Nifty reclaiming its important psychological level of 17,600. ICICI Bank, HDFC Bank, Reliance Industries, HDFC, Tata Consultancy Services, Bajaj Finance, Axis Bank and State Bank of India were among the top movers in the Sensex.
The Sensex ended 929 points higher at 59,183 and Nifty 50 index climbed 272 points to settle at 17,626.
Investors are now focusing on focusing on upcoming Union Budget wherein the government will announce measures to spur economic growth in the country which has been disrupted by the ongoing Covid-19 pandemic, analysts said.
Buying was visible across the board thirteen of 15 sector gauges compiled by the National Stock Exchange ended higher led by the Nifty Private Bank index's nearly 3 per cent gain. Nifty Bank, Auto, Financial Services, Media, Metal, Information Technology, PSU Bank, Realty and Oil & Gas indices also rose between 1-2.65 per cent.
On the other hand, Nifty Pharma and Healthcare indices ended lower.
Mid- and small-cap shares also witnessed buying interest as Nifty Midcap 100 and Nifty Smallcap 100 indices rose 1.15 per cent each.
Among the individual shares, Tata Motors rose 3 per cent after it surpassed Hyundai to become the country's second largest car maker in December.
Coal India was top Nifty gainer, the stock rose 6.4 per cent to close at Rs 155. Eicher Motors, Tata Steel, ICICI Bank, Bajaj Finserv, Axis Bank, IndusInd Bank, HDFC Bank, Grasim Industries, State Bank of India, JSW Steel, TCS, HDFC and UPL also rose between 2-4.65 per cent.
On the flipside, Cipla, Dr Reddy's Labs, Mahindra & Mahindra, Divi's Labs, Tech Mahindra and Nestle were among the notable losers.
The overall market breadth was extremely positive as 2,687 shares ended higher while 873 closed lower on the BSE.
