Market

Closing Bells: Indian Benchmark Indices Close Over 1% Higher

The Indian benchmark indices are back on the upward run after a pause of one day as they closed Thursday over 1% higher. The financial and technology stocks led the gains in the indices. The shares of Reliance Industries Limited and HDFC duo emerged as the top contributors for the surge in the Indian cues. 

The S&P BSE Sensex ended the day at 36,737.69 points. It advanced 1.12% or 408.68 points. Of the 30 stocks constituting the Sensex index, 20 of them ended Thursday in the green whereas nine of them were on the downward run while one stock (Titian Company gained a mere 0.03%) ended nearly flat. 

The northern run by the Sensex was powered by the stocks of SBI, Tata Steel, HDFC, HCL tech and Axis Bank as they gained 3.72%, 3.05%, 3.05%, 2.37%, and 2.16% respectively. ONC, Tech Mahindra and Maruti Suzuki emerged as the top losers as they dropped 1.66%, 1.22% and 0.02% respectively. 

The NSE Nifty 50 closed the day at 10,813.45 points. It zoomed 1.01% or 107.70 points. Among the 50 Nifty stocks, 35 of them wrapped up Thursday in the green terrain while the remaining 15 closed in the red. The shares of Hindalco (+6.58%), HDFC (+4.26), SBI (+4.14%), Bajaj (+3.81%) and Tata Steel (+3.23%) gained the most. 

Also Read: Closing Bells: Indian Indices Close Friday Nearly 0.50% Higher

The broader indices failed to match the performance of the benchmark indices. The S&P BSE SmallCap index shot up 0.59% to mark the end of Thursday’s trading hours. The S&P BSE MidCap index managed to close the day by gaining 0.07% higher. 

Infratel, Coal India and Tech Mahindra turned out to be the top losers on the Nifty 50 front as they lost 1.94%, 1.54% and 1.20% respectively. The UPL Limited closed almost falt as its share price moved by a meagre 1.11% on the positive side. India VIX, the volatility gauge, dropped 3.74% or 1.10 points to settle at 28.33 points.

Among the sectoral indices, the NSE Nifty Metal index expanded 2%. It was followed by the NSE Nifty Financial Services and NSE Nifty Bank indices. The NSE Nifty FMCG index is the only sectoral index to have closed Thursday in the red. It closed at 30,672 levels, dropping 0.33%. 

For any clarifications/feedback on the topic, please contact the writer at vineeth.nc@cleartax.in

Share

Recent Posts

Mutual Funds: SIP Inflows Breach Rs 19,000-Crore Mark for the First Time in February ’24

The systematic investment plan (SIP) contribution in February 2024 has crossed a new milestone. The monthly contribution tipped at Rs…

9 months ago

Income-Tax Return: A Brief Note on Annual Information Statement (AIS)

The Income-Tax (I-T) Department has directed taxpayers to access the Annual Information Statement (AIS) via the e-filing official portal and…

9 months ago

Mutual Funds: All About SIP and Market Fluctuations

Considering the vagaries of the stock market, investors often ponder over reevaluating their strategies. Whether to continue to remain invested…

9 months ago

Income-Tax Saving Through Strategic Life Insurance Planning

Financial planning is beyond just investing wisely to save on taxes; it's also related to protecting oneself and one's loved…

9 months ago

Income-Tax Return: Here’s a Note on Tax-Saving Avenues

A salaried individual earning up to Rs 5-15 lakh as net salary on an annual basis must first take stock…

9 months ago

A Quick Take on Equity-Linked Savings Scheme

Equity-linked savings schemes (ELSS), also referred to as tax-saving schemes, are equity funds that invest a significant portion of their…

9 months ago