Indices Shrug Off Rising Coronavirus Cases; Nifty Settles With Gains Of 76 Pts.

Indices today withstanding rising corona cases in the country turned positive, while broader markets underperformed their headline indices. The gains on the indices have been despite research firms Nomura as well as Goldman Sachs pointing to a cut in FY22 GDP estimate.

At the closing, Sensex ended higher by 260 points, while Nifty topped levels of 14581, rising 76 points.

Among Nifty sectoral indices, IT, pharma, Nifty Bank, Nifty Private bank, metals were all up, with maximum weakness in the auto pack.

Stocks of sugar companies rose in today's session on optimistic expectations around Q4 earnings.

Wipro shares too gained over 3 percent ahead of its Q4 earnings due to be announced today.

Eicher Motors shares also dived by over 4 percent to an over 3-month low of Rs. 2384 per share as analysts are cautious on both the volume front as well as margin performance aspect.

Oil prices scaled to one-month high after IEA and OPEC raised production forecast.

Meanwhile, at the time of writing this copy, European indices traded firm with FTSE up 0.39 percent.

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