Market update: Sensex surges 150 points, Nifty extends gains

Indian Indices extended their upward movement for the fourth straight day on Thursday, with Sensex trading 150 points higher in the early hours of trade. The bullish sentiment amid a crisis came on the back of the US Fed decision to keep policy loose and impressive investments by Foreign Institutional Investor (FIIs). 

Notably, FIIs had invested worth Rs 766.02cr in cash, and Rs 436.2cr in Index futures in Indian markets on Wednesday. 

However, Sensex opened marginally higher, as it re-claimed the 50,000 level after 12 trading sessions. But only for a while. Likewise, Nifty reclaimed 15000 levels on opening during Thursday’s trading session but was trading a tad bit lower than the opening levels. 

Most of the heavyweights, including Reliance Industries, HDFC twins, Axis Bank, ICICI Bank, and Bajaj Finance, were trading in the green zone. Some of them were trading 2% higher intraday. 

Tata Steel, IndusInd Bank, Hindalco Industries, Axis Bank, and JSW Steel were trading 3% higher. Meanwhile, the Nifty Bank surged above the 34000 mark, gaining over 1% intraday. 

Investors are likely to take note of earnings that are likely to be announced today. Around 36 companies will announce their financial results for Q4 FY21 results. Some of the notable companies include HUL, Bajaj Auto, Titan, Ambuja Cements, Inox Leisure, Bank of Maharashtra and Rain Industries. 

 

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