Markets on Thursday applauded the RBI for stopping the rate hike cycle in an unprecedented move. The Sensex inched closer to the 60,000 mark and the Nifty 50 crossed the 17,600 mark. This will be the fifth consecutive rally in the market with focus on RBI policy. Fall in bond yields led to buying in equities despite weaker Asian counterparts.
The Sensex closed at 59,832.97, up 143.66 points or 0.24%. The benchmark moved closer to its psychological mark during the day after touching an intraday high of 59,950.06.
The Nifty 50 closed at 17,599.15, up 42.10 points or 0.24%. The benchmark had touched the day’s high of 17,638.70.
Top gainers on Sensex were— Bajaj Finance up nearly 3%, Tata Motors up 2.6% and Bajaj Finserv up 1.9%. Other stocks such as IndusInd Bank, Sun Pharma and M&M advanced between 1% to 2%.
Top underperformers on the Sensex were – HCL Tech down over 1.7%, ICICI Bank and Axis Bank down over 1%. Shares like Tech Mahindra, Titan, HUL and Wipro were also in the red.
In the broader market, both the Midcap and Smallcap indices gained around 172 points and 194 points respectively on BSE. Broadly, the market turned bullish with midcaps and smallcaps performing better.
In terms of sectoral indices, on the BSE, auto stocks outperformed with gains of around 267 points, while capital goods and healthcare indices climbed 252 points and 167 points. The Oil & Gas index also jumped 133 points. On the other hand, selling was seen in IT, metal and consumer durables.
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