Sensex Rallies Over 650 Points, Nifty Above 17,150 Led By Banking Shares
NDTV
HDFC, Reliance Industries, Infosys, ICICI Bank, State Bank of India, Kotak Mahindra Bank and HDFC Bank were among the top movers in the Sensex.
The Indian equity benchmarks staged a gap up opening on Wednesday with Sensex rising over 650 points and Nifty reclaiming its important psychological level of 17,150 led by gains in HDFC, Reliance Industries, Infosys, ICICI Bank, State Bank of India, Kotak Mahindra Bank and HDFC Bank. Meanwhile, other Asian markets also bounced back after falling in the previous session on concerns over new Covid-19 variant. Japan's Nikkei rose 0.7 per cent, Hong Kong's Hang Seng advanced 1.42 per cent and Straits Times rose 1.2 per cent.
As of 9:31 am, the Sensex was up 613 points at 57,678 and Nifty advanced 201 points to 17,185.
In the previous session, Indian markets fell sharply in the previous session mirroring losses in global markets after drugmaker Moderna's CEO set off fresh alarm bells in financial markets on Tuesday after he warned that COVID-19 vaccines were unlikely to be as effective against the Omicron variant as they have been against the Delta version.
However, the markets bounced back on strong GDP data that was announced after the market hours on Tuesday.
