Indian stock markets closed on a positive note Thursday. The NSE Nifty 50 climbed 86.40 points or 0.37%, settling at 23,249.50, while the BSE Sensex surged 394.88 points or 0.52% to end the session at 76,927.84.
Banking stocks also participated in the rally, with the Bank Nifty advancing 146 points or 0.30% to close at 49,311.95.
“The Indian markets concluded on a positive note despite fluctuating between gains and losses. The fall in oil prices due to a rise in US inventories and an ease in US 10-year yield after the US Fed’s hawkish view may decelerate FIIs outflow. The upcoming budget may be seen as an inflection point, which is likely to reverse the current bearish trend if the policies restore growth and consumption. As the long-term story is intact, investors are focusing on stocks and sectors where operational metrics and valuations are favourable,” said Vinod Nair, Head of Research, Geojit Financial Services.
Top gainers and losers
As of the close, the top gainers in the Sensex 30 today include Power Grid Corporation of India, Bharti Airtel, Nestlé India, Bajaj Finance, Mahindra & Mahindra, and Hindustan Unilever. On the other side, top losers in the Sensex 30 today include Zomato, Adani Ports, Bajaj Finserv, ITC Hotels, and Tata Motors among others.
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The top 5 gainers in the Nifty 50 pack included Bharat Electronics, PowerGrid, HeroMoto Corp, Bharti Airtel and Cipla. On the other side, the top losers were Tata Motors, ITC Hotels, Adani Enterprises, Shriram Finance and Bajaj Finserv.
Sectoral indices
The Nifty Midcap 50 index closed at 14,674.05, marking a gain of 0.02%, while the Nifty Midcap 100 index finished at 52,714.25, down by 0.01%. The Nifty Smallcap 50 index saw a modest gain, closing at 7,901.80, up by 0.07%.
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