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.
BSE Sensex touched a fresh record high of 74,245.17 ending 33.40 points or 0.05 per cent higher at 74,119.39.
“Investors have time, even now, to switch from small-caps to fairly valued large-caps and partly to fixed income products. At this stage in the market, safety should be given priority over return," he said.
Sensex was down 195.16 points or 0.26 per cent at 73,677.13 while the Nifty was down 49.30 points or 0.22 per cent at 22,356.30.
Tata Motors board approved the proposal to demerge the company into two separate listed entities, viz a) CV and its related investments and b) PV, including India PV, EV, JLR, and related investments.
It was a wild, volatile and eventful week which got extended into Saturday as well. Expiry happened on February 29, which was a leap day and till that event was over, markets were trading in negative territory for the week.