Biggest gainers & losers of the day: Auto players in demand; Surya Roshni loses sheen

New Delhi: The domestic equity market kicked off 2022 on a higher note, extending its winning streak to the third straight session. Despite rising cases of Omicron variant in the country, all-around buying across sectors supported the market sentiments.

The 30-share pack Sensex rallied 929.40 points or 1.60 per cent to close at 59,183.22. Its broader peer Nifty50 surged 271.65 points or 1.57 per cent to 17,625.70. The broader markets underperformed the headline peers but both BSE Midcap and BSE Smallcap gained a per cent each.

Santosh Meena, Head of Research, Swastika Investmart, said, "Indian equity market snub sharp rise in Covid cases and begin 2022 on a cheerful note where the laggard Bank Nifty witnessed the highest gain today. There was a risk-on sentiment in the Indian equity market, where the high beta sectors outperformed defensive names."

Auto parts makers were in high demand as auto companies reported strong sales in December. Apollo Group stocks were hit badly on the back of muted numbers while shares of Surya Roshni lost steam too.

Let's have a look at the biggest movers and shakers of Monday's session:

GAINERS
Auto Equipment Players: The shares of smaller auto parts makers were in high demand as the major auto companies reported strong sales data in December. Ucal Fuel Systems hit the upper circuit of 20 per cent at Rs 172.65 while Minda Corp zoomed 19 per cent to Rs 200.20.

Black Box: The smallcap IT player hit the upper circuit of 20 per cent to Rs 983.45 ahead of its results for the quarter ended December 31, 2021. The company will release its earnings for Q3FY21 soon.

Vindhya Telelinks: The telecom cable manufacturer rallied 16 per cent to Rs 1,304 on the back of positive reports over the company. The company is poised for strong performance in Q3, suggested a few analysts.

Swelect Energy Systems: This solar power company has been high in demand, with the scrip up 40 per cent in the last one week. The scrip settled at Rs 330, up 16 per cent higher on Monday.

Rajesh Exports: The gold retailer surged 16 per cent to Rs 852.05 on the back of a strong technical set-up on the daily chart. The traded volume on the counter jumped manifold compared to the two-week average.

Greaves Cotton: The industrial machinery player advanced 13 per cent to Rs 155.70 after the company’s e-mobility arm, Greaves Electric Mobility, said it has sold over 10,000 units in December 2021.

LOSERS
Surya Roshni: The smallcap electrical player tanked over 11 per cent after its executive director and CEO of the lighting subsidiary resigned from his post. The traded volume of the counter rose heavily.

Vishwaraj Sugar Industries: The microcap sugar player shed 11 per cent to Rs 25.10 despite the successful development of a technology for sugarcane syrup preservation to enhance ethanol production.

Apollo Tricoat Tubes: The steel products distributor dropped 8 per cent to Rs 813.05 in anticipation of a disappointing performance in the December 2021 quarter and weak technical setup on the daily charts.

Dhanuka Agritech: The agrochemical player declined another 6 per cent to Rs 782.55 as the bourses sought clarification from the company over the sudden spurt in the volume and price of the company's share.

APL Apollo Tubes: The structural steel tube manufacturer slipped 5 per cent to Rs 949.20 as it announced that Q3FY22 sales volume of 402,729 tons declined on QoQ basis due to channel destocking in anticipation of steel price correction and extended monsoons.