Sensex adds 929 points. Nifty at 17,625. Banks and IT rally

Amid Omicron fears, Indian benchmark indices started 2022 with a positive note. Sensex added 929 points to close at 58,183.2. Nifty gained 271.70 points to end at 17,625.70. 

Except for Pharma and healthcare, all sectoral indices ended in green. Banks and IT stocks lead the rally along with the Auto stocks. While Coal India was the top gainer, three banking and financial stocks were on top 5 gainers list. On losing side, Cipla was the top loser. Dr. Reddy’s and Divi’s were also in the list.

Index’s heavy weight stock Reliance Industries did well today. The stock added 2.5%. Auto makers brought cheers to the markets. Except for stocks like M&M, most of them like Eicher Motors and Tata Motors did well today. 

On the other hand, rising Omicron cases causing governments all over the world to put curbs. These fresh fears of curbs and curfews may affect the optimism.