INSUBCONTINENT EXCLUSIVE:
The overall market breadth stood positive as 2,154 shares advanced while 1,319 declined on BSE.New Delhi: The Indian equity benchmarks
turned positive in a highly volatile trade on Monday led by gains in IT and pharma stocks
The BSE index rebounded more than 850 points from its day's low of 56,543.08.Mid- and small-cap shares jumped as Nifty Midcap 100 index
climbed 0.44 per cent and Nifty Smallcap 100 index surged 0.20 per cent.12 out of 15 sector gauges -- compiled by the National Stock
Exchange -- settled in green
Nifty Pharma, Nifty IT and Nifty Healthcare jumped as much as 1.62 per cent."The Indian benchmarks managed to trade in green despite a
negative opening in the morning as the market rebounds from Omicron shock
Domestic sentiments impacted by positive cues from other Asian markets as Singapore's manufacturing data showed a double-digit growth in
November month," said Gaurav Garg, Head of Research, Capitalvia Global Research Ltd."Our research suggests that the levels of 57,400-57,500
(Sensex) may act as resistance levels in the market for short term
If the market breaches the levels of 57,400-57,500, we can expect the market to trade till the range of 57,600-57,700
Technical indicators also support positivity in the market," he added.On the stock-specific front, Tech Mahindra stood as the top Nifty
gainer as the stock soared 3.44 per cent to Rs 1,783.05
Shares of Cipla, Dr Reddy's, UPL and Kaotak Mahindra Bank also witnessed gains.On the flipside, Hindalco, Britannia, ONGC, IndusInd Bank and
Maruti fell as much as 1.42 per cent.Shares of RBL Bank fell as much as 20 per cent after the lender's board accepted a request from
Vishwavir Ahuja, managing director and chief executive officer, to proceed on medical leave with immediate effect.On the BSE index, Power
Grid, ICICI Bank, Sun Pharma, Mahindra - Mahindra, HDFC twins (HDFC and HDFC Bank) and Bajaj Finserv attracted the most gains with their
shares rising as much as 3.40 per cent.The overall market breadth stood positive as 2,154 shares advanced while 1,319 declined on BSE.Also,
shares of Adhesives Ltd rose 16.42 per cent in their market debut against the initial public offering price of Rs 274.Meanwhile, the
government said it will start administering Covid-19 booster shots as a precautionary measure to healthcare and frontline workers from
January 10, as Omicron cases rose across the country.
