The benchmark equity indices ended Thursday’s trading session in the positive territory. The NSE Nifty 50 gained 80 points or 0.36% to settle at 22,514.65, while the BSE Sensex jumped 350.82 points or 0.47% to 74,227.64. Bank Nifty index ended higher by 436.55 points or 0.92% to settle at 48,060.80.
The broader indices ended in mixed territory, with gain led by Large-cap and Small-cap stocks. IT and Banks stocks outperformed among the other sectoral indices while PSU Banks and Energy stocks shed.
HDFC Bank, Titan Company, Tech Mahindra, Eicher Motors, and Asian Paints are the top gainers on NSE Nifty 50 index whereas top laggards include OGC, Adani Ports and SEZ, Shriram Finance, BPCL, and Bharti Airtel.
The Indian Volatility Index (India VIX) closed down by 1.34 %.
“Market breadth displayed a positive trend within a narrow trading range, with attention focused on the RBI’s upcoming monetary policy announcement tomorrow. Expectations lean towards the likely status quo in the repo rate due to prevalent inflation worries,” said Vinod Nair, Head of Research, Geojit Financial Services.
Nair also added, Meanwhile, the broader market has shown resilience in select sectors like banks in anticipation of decent Q4 results and exports based on composite PMI data reflecting strong business conditions.”