NewKerala.com

Sensex Soars 918 Points, Nifty Tops 24K as Markets Extend Rally

Indian equity benchmarks resumed their upward trajectory, with the Sensex gaining 918 points and the Nifty closing above 24,050. The rally was supported by select heavyweight stocks, while broader midcap and smallcap indices outperformed the frontline indices. Sectoral performance was mixed, with the Nifty IT index emerging as the top gainer. Analysts noted a cautiously optimistic sentiment as traders balanced geopolitical concerns with domestic buying support.

Key Points: Sensex, Nifty Gain Over 1% as Broader Markets Outperform

  • Sensex up 918 pts
  • Nifty closes above 24,050
  • Broader markets outperform
  • Nifty IT top sectoral gainer
  • Mixed sectoral performance
2 min read

Nifty, Sensex extend gains by over 1 pc

Indian equity benchmarks Sensex and Nifty rose over 1%, supported by heavyweights. Broader midcap and smallcap indices surged even higher.

"market sentiment remained cautiously optimistic - Analysts"

Mumbai, April 10

Indian equity benchmarks resumed their upward momentum on Friday after a brief one-day pause, as investors closely monitored developments in West Asia and assessed their potential impact on global markets.

Both the Nifty and the Sensex ended higher, extending their recent gaining streak. At the closing bell, Sensex was up 918.6 points, or 1.20 per cent, to finish the intra-day trading session at 77,550.25.

Nifty also followed suit and closed at 24,050.6, up 275.5 points, or 1.16 per cent.

Gains in the frontline indices were supported by select heavyweights, with stocks such as Asian Paints, Eicher Motors, Bajaj Auto, and Shriram Finance emerging as the top performers on the Nifty.

The broader markets outpaced the benchmark indices, reflecting strong investor participation beyond large-cap stocks.

The Nifty MidCap index closed 1.48 per cent higher, while the Nifty SmallCap index rose 1.67 per cent.

On the sectoral front, performance remained mixed. The Nifty IT index stood out as the top gainer, benefiting from buying interest in technology stocks.

In contrast, the Nifty Auto, Nifty Bank and Nifty Financial Services indices lagged behind the broader market -- underperforming their peers during the session.

Analysts said that the market sentiment remained cautiously optimistic, with traders balancing geopolitical concerns with continued domestic buying support.

Meanwhile, at the opening bell, both the Indian equity benchmarks was traded sharply higher, mirroring gains in global markets despite fresh geopolitical tensions and concerns over the closure of the Strait of Hormuz.

Earlier in the day, the 30-share index Sensex climbed to touch an intra-day high at 77,622.50, while Nifty surged to touch an intra-day high of 24,074.05.

However, at the early trade, the 30-share Sensex opened at 77,121, up 0.64 per cent or 489 points, while the 50-share index began the session at 23,880, gaining 0.44 per cent or 100 points.

- IANS

Share this article:

Reader Comments

P
Priya S
While the gains are welcome, I'm a bit concerned. The article mentions "cautiously optimistic" sentiment due to West Asia tensions. A sudden spike in oil prices because of the Strait of Hormuz issue could reverse all this very quickly. We've seen it happen before.
R
Rohit P
IT index as the top gainer is interesting! Maybe the global fears are pushing money into defensive sectors like tech. My portfolio is heavy on auto and bank stocks though, so today was a bit flat for me. Need to diversify.
S
Sarah B
As someone new to investing in India, this is encouraging. The detailed breakdown of sector performance is very helpful. It seems like a good time to look at some of those mid-cap companies that are driving the growth.
V
Vikram M
Sensex above 77.5k is just mind-blowing. Remember when we celebrated crossing 50k? The domestic investor base has become so strong, it's absorbing a lot of the global volatility. Jai ho!
K
Karthik V
A respectful criticism: Articles often focus on the points gained. For the common person, percentage change is more meaningful than "up 918 points". Please always lead with the % for context. Otherwise, good coverage.

We welcome thoughtful discussions from our readers. Please keep comments respectful and on-topic.

Leave a Comment

Minimum 50 characters 0/50