Market News
2 min read | Updated on April 04, 2024, 17:21 IST
SUMMARY
Domestic markets opened at record high levels today, with NIFTY50 and SENSEX touching lifetime highs of 22,619 and 74,501. However, benchmark indices pared some of the early morning gains amid profit booking. At the close, indices whipped intraday losses to close higher supported by gains in IT and banking stocks.
Stock list
NIFTY50, SENSEX close at all-time high: key reasons behind the market rally
Benchmark indices ended higher today amid volatility. NIFTY50 closed 0.36% higher at 22,514, while SENSEX gained 0.47% or 350 points to 74,227.
Domestic markets opened at record high levels today, with NIFTY50 and SENSEX touching lifetime highs of 22,619 and 74,501. However, benchmark indices pared early morning gains amid profit booking. At the close, indices whipped intraday losses to close higher, supported by gains in IT and banking stocks.
Banking stocks are also in action ahead of the RBI monetary policy meeting. Besides this, optimism around Q4 earnings, which will be announced in the coming days also propelled the markets higher.
Out of the NIFTY50 space, 31 stocks closed in green. HDFC Bank (+3.1%), Titan (+1.9%) and Tech Mahindra (+1.8%) were among top gainers, while ONGC (-2.1%), Adani Ports (-2.0%) and Shriram Finance (-1.7%) were top losers
Broader market indices continue to see dream run. NIFTY Midcap100 touched lifetime high of 50,152 before closing flat, while NIFTY Smallcap100 closed 0.45% higher. Broader markets are witnessing renewed optimism after sharp corrections over the past few months.
On the sectoral front, NIFTY IT (+1.08%), Bank (+0.9%) and Financial Services (+0.8%) were top gainers, while NIFTY Oil & Gas (-1.3%), PSU Bank (-0.7%) and FMCG (-0.43%) ended in red.
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