Share Market Live: Sensex rises 600 points, Nifty crosses 17,500; Bajaj FinServ, TCS, Axis Bank top gainers

Indian equity market extended gains after opening in the green today. Sensex was trading 606 points higher at 58,860 and Nifty rose 167 points to 17,521. Bajaj FinServ, TCS and Axis Bank were the top  Sensex gainers, rising up to 1.94%. Earlier, Sensex opened 57 points higher at 58,662 and Nifty gained 33 points to 17,387.The rising number of Covid-19 and Omicron cases in India and the world will dictate the course of stock market this year, say experts.

Here's a look at the updates of the market action on BSE and NSE today.

12:01 pm: Market trading higher

The Indian market was trading in the green amid mixed global cues. Sensex was trading 606 points higher at 58,860 and Nifty zoomed 167 points to 17,521.

11: 55 am: Edelweiss Financial stock rises over 4%

Shares of Edelweiss Financial Services Ltd (EFSL) rose 4.87% to Rs 75.40 today after the firm said it has raised over Rs 456 crore  through public issuance of Non-Convertible Debentures (NCDs). EFSL stated that it successfully completed the issuance and allotted 45,62,472 NCDs with the face value of Rs 1,000 each, amounting to Rs 456 crore.

11: 35 am: Market breadth

The market breadth was positive with 2,664 shares trading higher against 745 stocks in the red. 140 shares were unchanged.

11:30 am: Sectoral gainers

On the sectoral front, capital goods, banking and IT shares led the gains. BSE capital goods index rose 361 points, BSE bankex gained 500 points and BSE IT index climbed 500 points. All 19 BSE sectoral indices ended in green.

11: 15 am: Expert's  quote

Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services said, "The biggest support to the global market rally is coming from the mother market US which is on a secular rally. S&P 500 has rallied spectacularly from the low of 666 in 2009 to 4766 now. In 2021 S&P 500 appreciated 26.9%, a tad above Nifty's 24.12%. So, the trend is US has to be carefully watched.

Investors should prepare for modest returns in 2022 with outperformance expected from financials, IT, telecom and construction related segments."

10: 45 am: Tata Motors stock on a roll

Tata Motors share rises 3.59% to Rs 499.70 as the auto giant reported a 50 percent jump in total passenger vehicle sales to 35,299 units in December 2021. The company had sold a total of 23,545 units in the same month a year ago.

10: 30 am: Market outlook

Brokerage Geojit in a note said,"Continued upsides, aiming 17600 is the favoured move. But inability to float above 17345 could signal decline in momentum. Subsequent turn lower, would not be deep as long as 17285 hold."

10:15 am: Market cap of BSE-listed firms climbs to Rs 268.19 lakh crore.BSE midcap and small cap indices rise 159 points and 280 points, respectively.

10:00 am: Equity market extends gains

Sensex trading 491 points higher and Nifty rises 133 points 17,487.

9: 25 am: Sensex gains 264 points to 58,518 and Nifty rises 86 points to 17,441. Maruti share was the top Sensex gainer, rising 1.64% followed by Wipro, L&T, Asian Paints and Tech Mahindra.

9:17 am: Market opens in green

Indian equity market opens higher amid mixed global cues. Sensex opens 57 points higher at 58,662 and Nifty gains 33 points to 17,387.

9: 10 am: Expert comment

Mohit Nigam, Head - PMS, Hem Securities said, "Auto stocks will be in focus today, as they will react to monthly sales data released over the weekend. The data, so far, has indicated that the chip shortage is gradually easing. The market will keep a close watch on Covid cases and fresh restrictions. If these go up significantly, it may keep the market volatile. The market will closely watch Markit Manufacturing PMI numbers for December which will be released today.

On the technical front, Nifty is managing to sustain above 17300 levels from past few sessions which would ultimately lead the index to 17,500 levels in near term.  Immediate support and resistance in Nifty 50 are 17,150 and 17,500 respectively. Bank Nifty's immediate support and resistance are 34,500 and 36,000, respectively."

8:45 am: Rupee in 2021

The rupee gained 13 paise to close at 74.29 against the US dollar in the last trading session of 2021. However, the rupee ended 2021 with loss of 122 paise or 1.67 per cent. The Indian currency closed at 73.07 on December 31, 2020.

8: 30 am: Global markets

In Asia, Kospi was trading 9 points higher at 2,986. Nikkei fell 115 points to 28,791 and Hang Seng index declined 47 points to 23,349.

On Wall Street, the S&P 500 ended 12 points lower at 4,766, the Nasdaq lost 96 points to 15,644 and the Dow Jones fell 59 points to 36,338.

8:15 am: Tracking Sensex, Nifty in 2021

Sensex gained 21.99% (10,502 points) and Nifty rose 24.12% (3,372 points) in 2021.

8:10  am: FIIs in action

Foreign institutional investors (FIIs) bought shares worth Rs 575 crore on December 31, and domestic institutional investors (DIIs) lapped up shares worth Rs 1,165 crore, as per provisional data available on NSE.

8: 00: Previous session updates

Sensex rallied over 450 points led by strong gains in Maruti, SBI and Bajaj Finance in the last trading day of 2021.  Sensex gained 459.50 points to end at 58,253 and Nifty rose 150 points to 17,354. Titan was the top Sensex gainer, rising 3.5 per cent, followed by Kotak Bank, SBI, Maruti Suzuki, Bajaj Finance, HUL, Axis Bank and Sun Pharma. NTPC, Tech Mahindra, PowerGrid and Infosys were the only losers, falling up to 1.97%. Market cap of BSE-listed firms rose to Rs 266 lakh crore on December 31.