The stock market indices Sensex and Nifty 50 closed on Thursday, April 4, on a higher note led by financial and technology stocks after hitting fresh record highs in the intraday trade, buoyed by positive cues from overseas markets in morning deals.
Equity benchmark indices rebounded sharply Thursday after two days of correction to close at new all-time highs, propelled by strong performances from financial and information technology stocks. Besides, investors lapped up select banking stocks expecting a status quo in the interest rate decision of the RBI’s Monetary Policy Committee.
The six-member rate-setting panel, which began its deliberation yesterday, will announce the decision tomorrow.The 30-share BSE Sensex rose 351 points or 0.47 per cent to close at its lifetime high of 74,228. The broader NSE Nifty also hit its fresh peak of 22,515, gaining 80 points or 0.36 per cent. Among the Sensex constituents, HDFC Bank, Titan, Tech Mahindra, and Asian Paints are the major gainers.
On the other hand, SBI, Bharti Airtel, JSW Steel, PowerGrid, ITC and Reliance closed the trading session in the red.
BSE MidCap fell 0.11 per cent, while the smallcap index gained 0.54 per cent.In sectoral indices at the BSE, the IT sector rose 0.90 per cent, the Consumer Durables index jumped 0.85 per cent, and the Utility sector soared 0.80 per cent. In contrast, the Oil and Gas index declined 1.65 per cent and the Energy sector fell one per cent.
At close, HDFC Bank, Titan, Tech Mahindra, Eicher Motors, and Asian Paints were among the top gainers, while ONGC, Adani Ports, Shriram Finance, BPCL, and Bharti Airtel were among the top losers. Index heavyweight HDFC Bank closed 3.15 per cent higher, a top Nifty 50 gainer after the private sector lender released its Q4 business update.