SENSEX surges 540 points, NIFTY50 closes above 22,000 post US Fed decision
Upstox
2 min read • Updated: March 21, 2024, 5:29 PM
Summary
Benchmark Indices – NIFTY50 (+0.79%) and SENSEX (+0.75%) – closed in green. Out of the NIFTY50 space, 40 stocks were advancing. NTPC, Tata Steel and Bharat Petroleum were among top gainers.
Benchmark indices closed in green for the second consecutive day due to gains in heavyweight stocks like HDFC Bank, Larsen & Toubro and NTPC. Out of the NIFTY50 space, 40 stocks were advancing.
NIFTY50 closed at 22,011, up 0.79%, while SENSEX gained 0.75% to end at 72,641 points. NTPC, BPCL, Power Grid, Tata Steel and Coal India were the top gainers, while Bharti Airtel, HDFC Life, Maruti, ICICI Bank and ONGC were the top losers.
The domestic market surged after the US Federal Reserve kept its key policy rates unchanged for the fifth time in a row. It also projected three rate cuts later this year.
Broader market indices also reacted positively to the development. NIFTY Midcap100 and NIFTY Smallcap100 indices gained 2.43% and 2.51% respectively.
All sectoral indices were up, with Realty (3%), Metal (2.44%), PSU Bank (2.14%) and Media (1.79%) gaining the most.
Shares of Torrent Power closed with gains of 1.80% on Thursday after the company announced entering into a share purchase agreement (SPA) to acquire Solapur Transmission.
Rail Vikas Nigam Limited shares rallied as much as 4.18% in the intraday trade after the company announced bagging a contract worth ₹167 crore from South Eastern Railway. The stock closed with a 2.11% gain.
Krystal Integrated Services IPO listed on stock exchanges with moderate gain, listing at a premium of 9.79% at ₹785 on the NSE. However the stock saw profit booking to close 9.1% lower at ₹713 per share.