Metal & Banking Stocks Propel Sensex To Gains, Closes At 77,478

India’s benchmark indices posted gains on Thursday, buoyed by a robust rally in metal and banking stocks amidst positive market sentiment.

The Sensex ended the day at 77,478, marking an increase of 141 points or 0.18%.

Similarly, the Nifty closed higher at 23,567, up by 51 points or 0.22% from its previous close.

Banking stocks also witnessed significant gains during the trading session.

The Nifty Bank index surged to 51,783, adding 385 points or 0.75%.

Investors showed strong interest in midcap and smallcap stocks throughout the day.

The Nifty Midcap 100 index rose by 522 points or 0.95%, settling at 55,473, while the Nifty Smallcap 100 index gained 110 points or 0.61%, closing at 18,266.

Leading the charge among gainers were stocks such as JSW Steel, Tata Steel, ICICI Bank, Reliance Industries, Axis Bank, Kotak Mahindra Bank, Asian Paints, and Hindustan Unilever (HUL).

Conversely, stocks like Mahindra & Mahindra (M&M), Sun Pharma, NTPC, State Bank of India (SBI), Wipro, and Bharti Airtel faced declines.

Sectorally, Metal, Banking, Realty, and FMCG indices posted substantial gains, while Auto, Pharma, and PSU Bank sectors recorded losses.

Market experts noted, “Despite notable volatility, the domestic market ended the day positively. Attention is likely to focus on the upcoming Union budget and the progress of the monsoon in the near term.”

“Internationally, the decline in US bond yields has spurred robust foreign institutional investor (FII) inflows in recent days. Fertilizer stocks showed strong momentum, driven by proposed GST reforms and an increase in Minimum Support Prices (MSP),” analysts added.

The positive closing reflects optimism amidst ongoing economic developments and global market trends, positioning Indian equities for potential further gains in the sessions ahead.

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