Markets extend winning run to fourth day as auto, IT shares advance

Equity benchmark indices marched higher for the fourth straight session on February 16, with Nifty closing above the 22,000 level, tracking gains in index majors L&T, Infosys and M&M, amid a firm trend in the global markets.

Equity benchmark indices marched higher for the fourth straight session on February 16, with Nifty closing above the 22,000 level, tracking gains in index majors L&T, Infosys and M&M, amid a firm trend in the global markets.

The 30-share BSE Sensex surged 376.26 points or 0.52% to close at 72,426.64. The index touched a high of 72,545.33 and a low of 72,218.10 during intraday trade. The broader NSE Nifty also climbed 129.95 points or 0.59% to end at points 22,040.70.

Wipro was the biggest gainer in the Sensex chart, rising 4.79%, followed by M&M, L&T, Tata Motors, Maruti, Infosys, Nestle India and IndusInd Bank.

Shares of M&M shot up 3.96% to finish at ₹1,835.55 apiece after it announced its supply agreement with German automotive major Volkswagen Group for electric vehicle components under their joint vision for electric mobility collaboration. In contrast, PowerGrid, SBI, Reliance, NTPC and Axis Bank were among the laggards.

In Asia, Japan's Nikkei, Hong Kong's Hang Seng and South Korea's Kospi settled with significant gains. China's financial markets are closed for the Lunar New Year holidays. The U.S. market closed higher in the overnight trade on February 15.

Global oil benchmark Brent crude slipped 0.83% to $82.17 a barrel. In the previous session, the 30-share index climbed 227.55 points or 0.32% to close at 72,050.38 points, while NSE Nifty gained 70.70 points or 0.32% to end at 21,910.75.