Sensex Rises 221 Points, Nifty Above 18,050; Voda Idea Tanks 21 Per Cent

Midcap and smallcap shares finished a bit higher as Nifty Midcap 100 index rose 0.09 per cent and Nifty Smallcap 100 index gained 0.06 per cent

HCL Tech was the top Nifty gainer as the stock rallied 4.49 per cent to Rs 1,346. Adani Ports, HDFC, Tech Mahindra, and ONGC were also among the gainers. Image: Getty

New Delhi: The key benchmark indices, Sensex and Nifty, which started Tuesday’s session amid volatility, led by disruptions due to global cues and rising cases of Omicron variant of Covid-19, ended day’s trade on a positive note.

The 30-share BSE Sensex rose 221 points close at 60,616, while the broader NSE Nifty settled 52 points higher at 18,056.

This is the third-straight session gains.

Midcap and smallcap shares finished a bit higher as Nifty Midcap 100 index rose 0.09 per cent and Nifty Smallcap 100 index gained 0.06 per cent.

Out of 15 sector gauges, eight sector, compiled by the NSE, settled in green. Nifty IT outperformed the index by rising as much as 1.03 per cent. IT heavyweights Tata Consultancy Services, Wipro, and Infosys will kick start the third-quarter (Q3) earnings season on January 12.

On the stock-specific front, HCL Tech was the top Nifty gainer as the stock rallied 4.49 per cent to Rs 1,346. Adani Ports, HDFC, Tech Mahindra, and ONGC were also among the gainers.

On the flipside, JSW Steel, Tata Steel, BPCL, Hindalco, and Coal India were among the laggards.

Meanwhile, the shares of Vodafone Idea crashed 20.54 per cent to Rs 11.80 on the BSE On Tuesday after the company’s board approved conversion of adjusted gross revenue and spectrum liabilities into equity. With this fall, the stock of the company has corrected 31.5 per cent from its 52-week high level of Rs 16.79 touched on December 10, 2021.

Apprehension of an earlier-than-expected rate hike by the Fed to tackle inflation and increasing cases of the Omicron variant kept investors on the back foot.

Asian equities and the dollar struggled to find direction with attention squarely on the timing and pace of US monetary policy normalization. Asian bourses saw mixed response from participants with China and Japan logging losses and Hong Kong and Taiwan gaining.

Foreign institutional investors (FIIs) were net sellers in the capital market, as they offloaded shares worth Rs 124.23 crore on Monday, according to stock exchange data.

Meanwhile, shares of Vodafone Idea tanked 15 per cent on the BSE after the company said that the central government will buy 36 per cent in the telecom firm after its board approved conversion of dues into equity.