Stock market reports solid gains, extends winning run on last day of FY24
Sensex was up 655.04 points or 0.90% at 73,651.35, and the Nifty was up 203.20 points or 0.92% at 22,326.90.
Sensex was up 655.04 points or 0.90% at 73,651.35, and the Nifty was up 203.20 points or 0.92% at 22,326.90.
Sensex ended higher by 526.01 points or 0.73% at 72,996.31 level while the Nifty 50 closed at 22,123.65 level, up 118.95 points or 0.54%.
Sensex opened the day at 72,396.97 against the previous close of 72,831.94 and traded in the negative territory throughout the session. The Nifty 50 opened at 21,947.90 against the previous close of 22,096.75
The Industrial Products sector emerged as the top performer, welcoming 48 new entrepreneurs and witnessing a staggering 147 per cent increase in cumulative wealth.
The rupee depreciated 35 paise to settle at an all-time low of 83.48 against the US Dollar. Forex traders said foreign fund outflows also weighed on the local unit.
This led to a relief rally in the global equity markets, serving as a major boost for midcap and smallcaps
The rally in the domestic market was after the US Federal Reserve maintained its projection of three rate cuts this year, boosting investor sentiment.
In the global market, the US stock index futures ticked lower as investors awaited the conclusion of the Federal Reserve's meeting.
The US Fed’s rate decision, more importantly the Fed commentary on Wednesday night, will decide the trend in the US market, he said.
Sensex closed down 1.01% at 72,012.05, and the Nifty was down 1.08% at 21,817.50.