Markets log gains for third day on buying in HDFC Bank, M&M

Sensex climbs over 225 points, Nifty settles near 22,000 as market heavyweights drive buying amid global equities.

Equity benchmark Sensex climbed over 225 points to reclaim the 72,000-mark on February 15, while the Nifty settled close to the 22,000 level, supported by hectic buying in market heavyweights M&M, HDFC Bank and SBI amid a largely firm trend in global equities.

Besides, a heavy rush on auto, energy and utility counters also helped the indices, traders said.

Rising for the third straight session, the 30-share BSE Sensex climbed 227.55 points or 0.32% to close at 72,050.38. The index opened strong and touched a high of 72,164.97 and a low of 71,644.44 during intra-day trades.

Shares of HDFC Bank surged 2.15% to close at ₹1,413.75 apiece against its previous close.

The broader NSE Nifty also gained 70.70 points or 0.32% to end at 21,910.75.

"The benchmark indexes inched higher, mirroring the positive sentiment prevailing in the global market. The disinflation trend in the Euro zone, coupled with better earnings, lifted investor sentiment.

"Despite the broad-based recovery, market participants are more inclined towards quality large-cap stocks owing to the prevailing valuation gap, which led them to exercise caution on small and mid-caps," said Vinod Nair, Head of Research, Geojit Financial Services.