Sensex and Nifty gained around 1% each on April 5 as the benchmark indices closed in positive territory. , Photo credit: The Hindu
Sensex and Nifty gained nearly 1% each on April 5 as the benchmark indices closed in the positive territory for the fourth straight trading session led by gains in IT and financial stocks.
A day ahead of the Reserve Bank of India’s monetary policy review, the 30-share BSE Sensex advanced 582.87 points, or 0.99%, to close at 59,689.31. In the index, 21 stocks closed in the green and nine stocks in the red mark.
After a gap-up open, the index touched a high of 59,747.12 points during the intra-day session.
The broader NSE Nifty jumped 159 points, or 0.91%, to close above the 17,500-level at 17,557.05. A total of 37 Nifty stocks advanced while 13 declined.
Among Sensex stocks, Larsen & Toubro rose the most by 3.96% after the company announced a major project win in the Middle East.
HDFC, HDFC Bank, Sun Pharma, ITC, HUL, Titan, TCS, HCL Tech, Asian Paints, Bajaj Finance, Infosys and Tata Steel were among the gainers.
On the other hand, IndusInd Bank declined the most by 1.26%, followed by Mahindra & Mahindra, NTPC, SBI and Maruti.
Vinod Nair, Head of Research, Geojit Financial Services, said on the back of strong quarterly data from banks and NBFCs and unexpected tax cuts, the domestic market is showing resilience, unaffected by weaker global peers.
He added that the RBI, which is expected to announce a rate hike of 25 basis points in its policy announcement on Thursday before taking a break, would be positive for the market.
Global markets were mixed, with Japan’s benchmark Nikkei 225 shedding 1.7 per cent, while South Korea’s Kospi rose 0.6 per cent. Markets in Hong Kong and Shanghai were closed for a holiday.
In Europe, Germany’s DAX fell 0.3%, France’s CAC 40 fell 0.2%, while Britain’s FTSE 100 rose 0.3% in afternoon trade.
In the domestic market, foreign institutional investors (FIIs) were net buyers on Monday as they bought shares worth ₹321.93 crore.