Taking Stock | Holi cheer for D-St; Sensex up 1,047 points, Nifty above 17,200

Taking Stock | Holi cheer for D-St; Sensex up 1,047 points, Nifty above 17,200

More than 100 stocks, including Titan Company, NDTV and HDIL, touched their 52-week high on the BSE





March 17, 2022 / 04:50 PM IST





The Indian market got into the Holi spirit on March 17, bringing cheer to investors as the benchmark indices gained nearly 2 percent on strong global cues and buying across sectors.

At close, the Sensex was up 1,047.28 points, or 1.84 percent, at 57,863.93, and the Nifty was up 311.70 points, or 1.84 percent, at 17,287. The market will be closed on March 18 on account of Holi.

After opening gap up and the market gains throughout the session, helped by declining crude oil prices, progress in Russia-Ukraine talks and FII buying.

"Global markets welcomed the fed decision to hike rates by 25bps as it was on expected lines. However, the Fed’s projection of another six hikes during the year is hawkish," said Vinod Nair, Head of Research at Geojit Financial Services.

"FIIs turning net buyers after a long wait was also a relief for the domestic market. With crude prices receding, war tensions calming down and foreign investors back to buying, we can expect the rally in the domestic market to continue."

HDFC, JSW