Indian equity markets rallied for the second consecutive session on Thursday, ending on a higher note, near its day’s high.
The Nifty 50 closed the session 304 points or 1.21% higher at 25,549, the Sensex jumped 1,000 points or 1.21% to end at 83,755.
In line with the overall bullish market sentiments, the Nifty Bank advanced 585.55 points or 1.03% to end at 57,207.
The BSE Midcap rose over 250 points or 0.56% to 46,362.77. On the other hand, the BSE Smallcap remained steady, surging 63 points or 0.12% to 53,960.57.
“The benchmark index reflected strong investor confidence, underpinned by the apparent stability of the Middle East ceasefire, which has eased concerns over potential supply chain disruptions. FIIs continued to pare holdings due to the narrowing yield spread between the US and India’s 10-year bond. DIIs emerged as net buyers, buoyed by improving liquidity conditions and a rebound in domestic consumption. Across the broader market, key sectors such as banking and auto posted notable gains, supported by easing domestic inflation concerns,” said Vinod Nair, Head of Research at Geojit Investments.
5 big highlights from today’s market action-
Indices in intraday trade
The indices closed Thursday’s session on a positive note. During the session, out of 2,975 trading stocks, 1,471 advanced, while 1,396 declined, and 108 remained unchanged. Today, 69 stocks hit a fresh 52-week high. Meanwhile, 22 stocks touched a new 52-week low.
Top gainers
Shriram Finance was the top gainer in the Nifty 50 in Thursday’s session, closing 3.69% higher. It was followed by Jio Financial Services, Tata Steel, Bharti Airtel, and Hindalco.
Top losers
Meanwhile, the shares of Dr Reddy’s Laboratories were the biggest losers in today’s trade. It was followed by Tech Mahindra, Wipro, SBI, Hero MotoCorp, and many others.