Investors strike gold in stock market make 25 lakh crore gains

Mumbai (The Uttam Hindu): Indian stock market closed with a big gain on Thursday. All round buying was seen in the market. At the end of trading, Sensex was at 78,553 with a gain of 1,508 points or 1.96 percent and Nifty was at 23,851 with a gain of 414 points or 1.77 percent. In four days, India's stock market has earned more than 25 lakh crore rupees.

Banking stocks led the market rally. Nifty Bank closed at 54,290, up 1,172 points or 2.21 per cent. Eternal, ICICI Bank, Bharti Airtel, Sun Pharma, SBI, Bajaj Finserv, Kotak Mahindra Bank, Axis Bank, Adani Ports, M&M, Titan, HDFC Bank, UltraTech Cement and NTPC were the top gainers in the Sensex pack. Only Maruti Suzuki and Tech Mahindra closed in the red. All sectoral indices closed in the green. Auto, pharma, energy, infra, services and private banks were the top gainers.

Along with largecap, there was buying in midcap and smallcap indices as well. Nifty Midcap 100 index closed at 52,657 with a gain of 312 points or 0.60 percent and Nifty Smallcap 100 index closed at 16,410 with a gain of 60 points or 0.37 percent. According to Ruchit Jain, Vice President, Technical Research at Motilal Oswal, this rally seems to be more than just a short-term pullback, as it has widespread participation from all, especially the names of big companies along with support from banking and financial stocks. There was a broad uptrend in the stock market. On the Bombay Stock Exchange (BSE), 2,427 stocks closed in the green, 1,522 stocks in the red and 157 stocks closed unchanged. Due to this rise, the market cap of BSE increased to Rs 419 lakh crore. The Indian stock market started with a decline due to weak global cues. At around 9.27 am, the Sensex was down 338.13 points or 0.44 per cent at 76,706.16, while the Nifty was down 120.75 points or 0.52 per cent at 23,316.45.