NIFTY50 settles at 22,123, SENSEX gains 526 points led by gains in Reliance and HDFC Bank
Upstox
2 min read • Updated: March 27, 2024, 5:16 PM
Summary
Benchmark Indices – NIFTY50 (+0.54%) and SENSEX (+0.73%) – closed in green after strong opening. Out of the NIFTY50 space, 22 stocks were advancing. Reliance, Maruti Suzuki were among top gainers.
Benchmark indices witnessed strong recovery, recouping losses from the previous session supported by gains in heavyweight stocks like Reliance, HDFC Bank, Maruti Suzuki and Larsen & Toubro.
NIFTY50 closed at 22,123 with 0.54% or 118 points gains, while SENSEX rose 0.73% or 526 points to end at 72,996. Out of the NIFTY50 index, 22 stocks were advancing.
Reliance, Maruti Suzuki, Bajaj Auto, Bajaj Finance and Titan were among the top gainers, while the markets were dragged by UPL, Hero MotoCorp, Wipro, Apollo Hospital and Dr Reddy.
On the sectoral front, NIFTY Realty (+0.85%) gained the most, followed by NIFTY Auto (+0.51%) and NIFTY Financial Services (+0.40%).
Automobile stocks saw strong buying interest ahead of monthly sales data to be released on 1 April 2024. Maruti Suzuki, Bajaj Auto, Mahindra & Mahindra were amongst top gainers from automobile space.
Broader market indices also closed higher, NIFTY Midcap100 was up +0.06%, while NIFTY Smallcap100 gained 0.96%.
Semi-annual rebalancing of the NIFTY50 index will come into effect tomorrow, with adjustments occurring today. Shriram Finance will replace UPL in the benchmark index. UPL share closed 2% lower at ₹455 per share, while Shriram Finance share ended flat.
Shares of Central Depository Service Ltd (CDSL) closed with a 5.58% decline, a major block deal. According to reports, Standard Chartered Bank is likely to sell its entire 7.18% stake in the company.
SRM Contractors IPO continues to receive strong response from investors. ₹130 crore IPO was subscribed over 17 times on day 2 till 5 pm.
Shares of Chatha Foods, which debuted on BSE SME at a 30% premium, hit their upper circuit. The stock of frozen and ready-to-eat food processor company closed at ₹76.65, up 5%.