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NIFTY50 SENSEX close with minor gains, realty stocks shine

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Upstox

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2 min read • Updated: April 23, 2024, 6:52 PM

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Summary

Markets trimmed early morning gains to close marginally higher amid heavy selling pressure in index heavyweight like Reliance Industries, mainly due to profit booking

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Broader markets outperform benchmark indices, with NIFTY Midcap 100 closing 1.06% higher and NIFTY Smallcap 100 Index closing 1.23% higher

Domestic markets closed higher for the third consecutive session, with NIFTY50 closing at 22,368, up 0.14%, paring opening gains. While SENSEX closed above 73,730 (+0.12%), gaining nearly 90 points Indices were pulled by strong performance of stocks in telecom, tech and consumer durable sector.

During the morning trades, NIFTY50 climbed 111 points or 0.49% to 22,447, but trimmed most of the gains amid heavy selling pressure in index heavyweight like Reliance Industries, mainly due to profit booking. Reliance closed at ₹2,919 per share, down 1.3% reacting to yesterday’s Q4 result announcement.

Read more: Reliance Industries Q4 results updates

Foreign Institutional Investors (FIIs) offloaded equities worth ₹3,044 crore on Tuesday, while Domestic Institutional Investors (DIIs) were net buyers in today's session with purchases worth ₹2,918 crore according to exchange data. Global oil benchmark Brent crude climbed 0.41% to $87.36 a barrel.

Broader markets outperform benchmark indices, with NIFTY Midcap 100 closing 1.06% higher and NIFTY Smallcap 100 Index closing 1.23% higher.

On the sectoral front, NIFTY Realty (+2.58%), NIFTY FMCG (+0.76%), NIFTY Media (+0.53%) were top sectoral gainers, while NIFTY Metal (-0.34%) and NIFTY Pharma (-0.96%) were the top losers today. NIFTY Bank closed at 47,970, up 0.10%.

In terms of top stock performance, Tejas Networks gets locked in upper circuit after firm reports Q4 PAT at ₹147 crore versus net loss in Q3FY23. Net profit for the quarter stood at ₹147 crore as compared to a net loss of ₹11.5 crore for the same period in the previous fiscal. Read more

Inox Wind shares jumped 9% on Tuesday, after the company announced that its board will consider a proposal for the issue of bonus shares to eligible shareholders. Shares pared gains to close 1.19% higher on the exchange. Read more

KP Energy shares hit 5% upper circuit on securing 9-MW wind power project contract. Shares were locked at ₹1,913 on NSE. The company secured a new order for developing a 9MW wind power project, which is part of a larger wind-solar hybrid power project in Gujarat. Read more