The special trading session marked its close today, with Sensex rising by 88.91 points or 0.12% to allow Sensex close at 74,005.94 points, and Nifty also increased by 40.70 points to close at 22,506.80 points. There was broad participation in the market as 2,359 shares were gainers, 998 were losers, and 130 were unchanged.
Except none, all sectors saw green close of the session and some stand out performances were of capital goods, PSUs, industrials, and media. Besides metals, public sector banks and the pharmaceutical sector also experienced strong performance, significantly contributing to positive sentiments.
Out of 50 stocks available on the Nifty, Nestle India topped the chart gainers of the day with over 1% increase in its share price. PG and TM registered an upturn along with the others to gain the position of the best in the stock trade for the day. Contrarily, steel was the one that suffered the most losses, around 2 percent.
The markets encompass sentiment and optimism across various sectors and a broader rally base. The rise, which is a sign of optimism about infrastructure and industrial growth, almost negates the drop in energy. The bank stocks of PSU banks light a strengthening banking sector, but polymathy in the pharmaceutical industry further demonstrates the sustained reputable interest in healthcare stocks.
While a Bengaluru-based realty firm’s shares plummeted by around 5 percent due to less-than-optimal quarterly results, the market showed some positive tendencies. For the match period ending on March 2024, the firm registered a net profit slump of 85 percent year-to-year to Rs 7 crore. The 40% decline in profitability amidst the 37% year-on-year rise in the sales revenue to INR 763 crore suggests that management problems might have played a role or that the cost of running such a business chain is too high.
The individual stock placement and sectoral index results display contrasting results from the market force action on different industries. The whole market mood came as rather cautiously positive, in the sense that investors carefully made individual sectors rise or drop while considering the market response.
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