NTPC, PowerGrid, IndusInd Bank, State Bank of India, HDFC, Mahindra & Mahindra, HDFC Bank, Bajaj Finance and Axis Bank were among the leading winners.
NTPC, PowerGrid, IndusInd Bank, State Bank of India, HDFC, Mahindra & Mahindra, HDFC Bank, Bajaj Finance and Axis Bank were among the leading winners.
Equity markets started the new fiscal year with smart gains on Friday, with the Sensex climbing over 708 points to retake the crucial 59,000 mark on gains in index majors HDFC Twins and Reliance Industries along with inflows from overseas funds.
On the first trading day of the new financial year, the BSE barometer rose by 708.18 points or 1.21% to 59,276.69. Over the day, it rose 828.11 points, or 1.41%, to 59,396.62.
The broader NSE Nifty rose 205.70 points, or 1.18%, to settle at 17,670.45.
From the 30-share Sensex package, leading gainers included NTPC, PowerGrid, IndusInd Bank, State Bank of India, HDFC, Mahindra & Mahindra, HDFC Bank, Bajaj Finance and Axis Bank.
In contrast, Tech Mahindra, Sun Pharma, Dr. Reddy’s, Titan and Infosys are the laggards.
Elsewhere in Asia, stock exchanges in Seoul and Tokyo closed lower, while Shanghai and Hong Kong ended up in the green. Markets in Europe mostly traded higher.
Stock exchanges in the US ended the night session on a negative note.
Meanwhile, international oil benchmark Brent rose 0.22% to $104.94 a barrel.
Foreign institutional investors (FIIs) remained net buyers as they bought ₹3,088.73 crore of shares, according to stock market data on Thursday.
“Indian equity markets posted positive returns this week. Global equity markets also remained broadly resilient, led by optimism over progress in Russia-Ukraine negotiations. On the other hand, commodities saw some correction from recent highs. In India, markets saw broad-based gains with most sector indices posting positive returns.
“Crude oil prices corrected this week and that’s a positive for import-dependent countries, including India,” said Shrikant Chouhan, head of equity research (retail), Kotak Securities Limited.
Meanwhile, output from eight infrastructure sectors rose 5.8% in February, the strongest growth in the past four months, on the back of better output from the coal, natural gas, refined products and cement industries, according to official data released on Thursday .
