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The year 2022 started with a bang for equity investors with their wealth jumping by over 5.36 lakh crore in the first two days of trading in New year, despite a surge in Omicron infections worldwide.

Indian equities closed higher for the third straight session on Tuesday, led by gains in banks, financials, power and energy stocks.

The Sensex rose 672.71 points, or 1.14%, to close the day at 59,855.93, while Nifty was up 179.60 points at 17,805.30.

On the Nifty, NTPC, ONGC, SBI, Power Grid and Titan Company were among the to Nifty gainers, while Tata Motors, Coal India, Sun Pharma, Tata Consumer Products and Shree Cements fell the most.

The market capitalisation of BSE-listed companies jumped by 5.36 lakh crore in just two trading sessions to reach 2,71,36,351.46 crore.

Except Metal and Pharma, all other sectoral indices ended higher, with banks, oil & gas and power indices up 1% each. BSE MidCap index ended flat and SmallCap index rose 0.4%.

NTPC gained the most today, jumping 5.48%. In the broader market, the midcap and smallcap indices jumped up to 0.39%.

"Markets traded buoyantly and ended higher for the third consecutive day. Upbeat global cues led to a firm start, which further strengthened with healthy buying in energy, banking, and IT majors.

"Markets are currently following their global counterparts while the domestic factors are showing mixed indications. Besides, the earnings season is also around the corner and it seems that participants are expecting a positive trend," said Ajit Mishra, VP - Research, Religare Broking Ltd.

In 2021, equity investors reaped handsome rewards as their wealth grew nearly by 78 lakh crore.

Meanwhile, JPMorgan analysts have said global stock market party is far from over. Everything is falling into place for further gains in global stocks this year, according to JPMorgan Chase and Co strategists.

“Stay bullish -- positive catalysts are not exhausted," strategists led by Mislav Matejka wrote in a note to clients on Tuesday. Downside risks -- including a hawkish turn by central banks, a slowdown in China’s economy, or more significant coronavirus restrictions -- will either fail to materialize or are already priced in to stocks, they said.

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