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.
Domestic equities rebounded sharply despite weak global cues mainly supported by a sharp recovery in financial stocks, said Binod Modi, Head - Strategy at Reliance Securities.
Unlike the larger markets, the MidCap and SmallCap on the broader markets ended with gains at 0.99 per cent and 0.73 per cent respectively.
Sector-wise, BSE power, utilities, energy, FMCG, basic materials, and metals indices rose up to 3.25 per cent, while BSE realty and capital goods closed with losses.
Following the large-cap markets, the broader markets also plunged with MidCap and SmallCap closing at 1.3 and 1.6 per cent down respectively.
On the other hand, Asian Paints, Dr Reddy's, HCL Tech, HUL and Bharti Airtel were among the gainers.