Sensex Rises 400 Points, Nifty Trades Above 17,200 Led By IT, Energy Stocks
NDTV
Sensex, Nifty Updates: By 1:24 pm, the NSE Nifty 50 index was up by 128 points or 0.75 per cent at 17,214.85 and the benchmark S&P BSE Sensex rose by 413.24 points to 57,833.48
Information technology and energy firms drove Indian shares higher on Tuesday, tracking upbeat global risk sentiment in the absence of major domestic triggers as investors shrugged off worries over the Omicron COVID-19 variant.
By 1:24 pm, the NSE Nifty 50 index was up by 128 points or 0.75 per cent at 17,214.85 and the benchmark S&P BSE Sensex rose by 413.24 points to 57,833.48
"Markets have been trying to consolidate after being extremely volatile over the past two weeks. We are trying to find a floor for the market around the 15,900-16,350 range. Even though equity markets have corrected, the valuation is still on the higher side," said Vinod Nair, head of research at Geojit Financial Services.
The Nifty energy index rose 0.7 per cent, while IT stocks added 0.9 per cent, set for a fifth straight month of gains after advancing 1.5 per cent so far in December.
