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.
On the broader front, the S&P BSE MidCap and SmallCap ended with losses at 0.16 per cent and 0.01 per cent respectively.
Traders said growing concerns over economic recovery and lack of fresh stimulus by central banks led to the global market selloff.
Out of 30 Sensex constituents, 28 were in the red with M&M, TCS, Bajaj Finance plunging by 5 per cent, 5.3 per cent and 5.60 per cent respectively.
Other laggards on the Sensex included Tata Steel, IndusInd Bank, NTPC, PowerGrid, ONGC and TCS.
The broader market followed the equity indices and slipped over a half per cent. The MidCap dropped 1.7 per cent while the SmallCap ended 1.6 per cent down.