The stock market got off to a strong start on Friday, the first day of the new financial year. Following this, the Bombay Stock Exchange benchmark Sensex rose 708 points to close at 59,000, despite a bearish grip at the start and a bullish start.
Foreign investment inflows and volatile macroeconomic signals were supportive of the market. Also, shares of banks, electricity and realty sector were well received. The Cabinet approval of the mega power policy, including the fall in crude oil prices, was favorable for the market, the sources said. Meanwhile, foreign institutional investors bought shares worth Rs 3,088.73 crore on Thursday, according to market data.
2,680 shares of the company’s stock market: 2,680 shares of the total 3,501 companies traded higher on the Mumbai Stock Exchange. Only 724 shares were on the fall list. 97 shares remained unchanged. 133 stocks recorded new 52-week highs and 21 stocks recorded new lows. The market capitalization rose by Rs 3.82 lakh crore to Rs 267.88 lakh crore at the end of trading. The number of registered investors has increased to 10.15 crore.
708 points: The Sensex was down 37.78 points at 58,530.73 in the morning trade and fell to 58,450.04. The Sensex, which had subsequently touched a high of 59,396.62, finally stood at 59,276.69, up 708.18 points (1.21 per cent). Although initially the bear dominated, later, the bull dominated.
NTPC upgrade: Only 5 stocks, including Tech Mahindra, Sunboma, Docto Reddy, Titan and Infosys, were down in the Sensex, which includes 30 top-tier stocks. The other 25 stocks also came on the dividend. Of this, NTPC, a public sector power company, topped the list with a gain of 5.93 per cent. This was followed by Pow Grid, Inds Ind Bank and SBI, which rose 3 to 3.70 per cent. Leading stocks including HDFC, M&M, HDFC Bank, Bajaj Finance, Axis Bank, Maruti, Wipro, Hindustan Unilever, Reliance, ICICI Bank and TCS were also on the list.
Nifty down 33 points: 1,647 shares gained on the National Stock Exchange. 289 shares came on the losing list. Forty stocks gained on the Nifty list, which includes 50 top-grade stocks. Only 9 stocks fell. The Nifty index was up 205.70 points (1.18 per cent) at 17,670.45. The Nifty, which started the day at 27,85 points lower at 17,436.90, fell to 17,422.70. Then, the maximum rose to 17,703.70.
Bank Index Improvement: All other sectoral indices except Bombay and Healthcore indices came on the gainers list on the National Stock Exchange. The Nifty PSU Bank Index topped the list with a gain of 3.99%. Nifty Bank, Private Bank, Realty, Oil & Gas indices rose 2.10 to 2.40 per cent. In addition, auto, FMCG, financial services and media indices rose 1 to 1.80 percent.