Second big rally in the stock market of 2022: Banking stocks gain

On the second trading day i.e. Tuesday in the Indian stock market, the second biggest rally of the year 2022 was seen. The Sensex closed at 59,530 points, up nearly 1,560 points. Nifty also closed at the level of 17,750 with a gain of about 430 points. All 30 Sensex stocks were up. The first biggest rally was seen on February 15 this year, when the Sensex had gained 1736 and the Nifty had gained 510 points.
Bajaj Finserv, Bajaj Finance, Tech Mahindra, IndusInd Bank, Tata Motors, Maruti, Tata Steel, NTPC, UltraTech Cement, State Bank of India and Axis Bank were the top gainers. On the other hand, Dr. Reddy's Laboratories was among the top losers of Nifty.
Gautam Adani, who reached third place in the list of the world's rich, saw a rise in the shares of all the companies. The shares of three of these companies made 52-week highs. Shares of Adani Group's flagship company Adani Enterprises, Adani Total Gas and Adani Transmission rose.
All the 11 sectoral indices of NSE saw a rise. The biggest rise was in the realty sector at 3.49%. After this, banks, private banks and financial services saw a rise of more than 3%. Auto, FMCG, IT, PSU Bank and Metal sectors gained over 2%. On the other hand, the media and pharma sectors saw a rise of more than 1%.
This recovery has come in the market after the heavy fall of the previous day. There was a rise in early trade amid buying in banking stocks and a mixed global trend. The Sensex opened up 488.4 points at 58,461.02. Nifty had opened higher by 154.55 points at 17,467.45. The market will be closed on Wednesday on account of Ganesh Chaturthi.
Earlier, due to negative signals from the global market, the stock markets closed with a heavy fall on the first trading day of the week i.e. on Monday. The Sensex closed 861 points lower at 57,972. On the other hand, Nifty had lost 246 points and closed at the 17,312 level.