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Sensex starts 2022 with a bang, gains 929 to hit 59k mark January 04 2022Sensex hits 59,000, Sensex gains 929 points

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Sensex starts 2022 with a bang, gains 929 to hit 59k mark

On Monday, the Indian stock market got off to a flying start in 2022, with the benchmark BSE Sensex surging over 900 points to recapture the 59,000-point level.

Even though India's manufacturing activity slowed in December, the Manufacturing PMI fell to a three-month low of 55.5, the gains were made.

The S&P BSE Sensex began the day with a modest gain of less than 100 points, but rallied throughout the day to reach a high of 59,266.39. It finally finished the session 929 points higher at 59,183.22, with 26 of the 30 index components in the green.

Bajaj Finance, Bajaj FinServ, ICICI Bank, Axis Bank, Tata Steel, IndusInd Bank, and HDFC Bank were among the top gainers on the Sensex chart, jumping as high as 3.50 percent.

Cipla, Dr. Reddy's Labs, and Divis Labs were among the laggards in the pharmaceutical industry. Other notable loses were Nestle India, HUL, and M&M.

Meanwhile, the Nifty50 index on the NSE closed at 17,626 points, up 272 points. It reached an intraday high of 17,647 points, with Coal India (up 9%), Eicher Motors, Bajaj Twins, ICICI Bank, Tata Motors, IndusInd Bank, and HDFC Bank leading the way.

On Friday, the Indian stock market closed the year 2021 on a strong note. The Sensex closed the year 459.50 points higher or 0.80%, at 58,253.82, and the Nifty ended the year 150.10 points higher, or 0.87 percent, at 17,354.05.

In 2021, the Sensex grew by 21.99 percent to 10,502.49 points, while the Nifty grew by 24.11 percent to 3,372.3 points.

It is expected that this positive momentum will continue on the street for a while. Although the investors can keep some capital aside if some major dips take place considering the increase in omicron infection cases

Also Read - Is DLF fundamentally strong?

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