New Delhi | Jagran Business Desk: Indian shares tracked broader Asia higher on Friday, with banks and energy companies leading the advance, although gains were capped by a surge in coronavirus cases and related restrictions.

The blue-chip NSE Nifty 50 index rose 0.81 per cent to 17,888 and the benchmark S&P BSE Sensex gained 0.82 per cent to 60,085 in early trade. Both indexes fell 1 per cent in the previous session, but are headed for a weekly gain of more than 2 per cent.

The bank Nifty index rose 1.2 per cent, while the energy index gained 1.1 per cent.

India's daily COVID-19 cases rose by 117,100 in the past 24 hours, the health ministry reported on Friday.

Updates from January 6:

The Indian benchmarks equities on Thursday slipped significantly as the country reported nearly 91,000 new COVID-19 cases, the biggest one-day spike since June last year. The BSE Sensex plunged by 621.31 points or 1.03 per cent to end at 59,601.84 while the Nifty closed at 17,745.90, down by 179.35 points or 1.00 per cent.

IndusInd Bank was the top gainer in the Sensex pack and was up by 1.74 per cent, followed by Bharati Airtel, Maruti, Titan, Bajaj Finance, Axis Bank and Mahindra & Mahindra. However, all other indices ended in red with UltraTech Cement being the top loser as it was down by 2.58 per cent.

Updates from January 5:

The Indian benchmarks equities on Wednesday continued their strong performance thanks to the strong gains in banking and financial stocks amid a supportive trend in European equities. The 30-share index surged 367.22 points or 0.61 per cent to end at 60,223.15. Similarly, the broader NSE Nifty rose 120 points or 0.67 per cent to 17,925.25.

Bajaj Finserv was the top gainer in the Sensex pack, rising over 5 per cent, followed by Bajaj Finance, Kotak Bank, Axis Bank, Tata Steel, HDFC Bank, Asian Paints and ICICI Bank. On the other hand, Tech Mahindra, Infosys, HCL Tech, Wipro and PowerGrid were among the laggards.

Updates from January 4:

Equity benchmarks defied gravity for the third session on the trot on Tuesday, in tandem with a rally in global markets as investors shrugged off soaring Omicron cases in multiple countries.

The 30-share BSE Sensex opened with significant gains and saw further consolidation as the trade progressed. It finally closed at 59,855.93, clocking a gain of 672.71 points or 1.14 per cent. Likewise, the NSE Nifty rose 179.55 points or 1.02 per cent to end at 17,805.25.

On the Sensex chart, major gainers were NTPC, PowerGrid, SBI, Titan, Reliance Industries, Axis Bank and TCS, rising as much as 5.48 per cent. In contrast, Sun Pharma, IndusInd Bank, UltraTech Cement, Dr Reddy's and Infosys slipped up to 1.21 per cent.

Updates from January 3: 

The Indian benchmark indices on Monday had a phenomenal first session of 2022 as both BSE Sensex and NSE Nifty surged significantly led by gains in banking and auto stocks. The Sensex closed at 59,183.22 - surging by 929.40 points or 1.60 per cent - while the Nifty was up by 271.65 points or 1.57 per cent, ending at 17,625.70.

Bajaj Finance was the top gainer in the Sensex pack and was up by 3.50 per cent, followed by HDFC Bank, Wipro, Kotak Bank, Titan, Tata Steel, ICICI Bank. On the other hand, Nestled, Tech Mahindra, Mahindra & Mahindra and Dr Reddy's ended in the red.

Analysts and experts are hopeful that the stock market will continue to grow despite a rise in Omicron cases as the new variant of COVID-19 is not as deadly as other strains.

"Even though Omicron is spreading fast, the market doesn't expect any restriction on economic activity that will impact growth and earnings. IT's outperformance (60 per centin 2021 and 55 per cent in 2020) is likely to continue in 2022 too," Economic Times quoted Dr VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services, as saying.

"Private Bank's underperformance (4.58 per cent in 2021) is likely to be reversed in 2022 with improving credit demand, declining NPAs and rising margins. Investors should prepare for modest returns in 2022 with outperformance expected from financials, IT, telecom and construction related segments."

Posted By: Aalok Sensharma