Leaders Online: After two days of decline, the domestic stock market rallied today (April 4). At the close of today's trade, the Sensex gained 350 points to close at 74,227 while the Nifty crossed the 22600 mark. Finally the index rose by 80 points to settle at 22,514. After 9 consecutive days of gains, Nifty's midcap index crossed 50000 for the first time. Meanwhile, the Sensex closed down 27 points at 73,876 on Wednesday.
Promising start after two days of decline
The stock market rallied after two days of decline. Today (April 4) major indices Sensex and Nifty were again seen trading at record highs. Sensex crossed the 74,400 mark. Nifty also reached the level of 22,600 for the first time. Meanwhile, the Sensex closed down 27 points at 73,876 on Wednesday, April 3. Today, the BSE Sensex rose 497.06 points, or 0.67 per cent, to an all-time high of 74,373.88. The national stock market's Nifty also touched a fresh high of 22,579.35, up 144.70 points or 0.64 per cent.
Buying spree in metals and banking sector
Buying in metals and banking sectors supported the market. In Nifty, HDFC Bank was seen trading as the top gainer, while IndusInd Bank was seen trading as the top loser. Among Sensex companies, 28 shares of HDFC Bank, NTPC, Power Grid, Tata Steel and Axis Bank were seen trading in the green with gains. While IndusInd Bank and ICICI Bank were seen doing business on Lal Nishapar. On Thursday, 46 out of 50 shares of the NSE Nifty were seen trading in the green. Shares of Vedanta fell by four per cent, while shares of Dabur fell by five per cent in the trading session.
HDFC Bank, Titan, EICHER Motors, Asian Paints were the top gainers in Nifty. While ONGC, Adani Ports, BPCL, Shriram Finance experienced decline.
Shares of GE Power India rose significantly
In today's intraday trading session, GE Power India, a major player in India's power generation equipment market, experienced a remarkable 11.8% rise in its shares to touch a 34-month high of Rs 371 each. The increase follows the announcement of substantial orders and marks the stock's sixth consecutive trading session of an impressive cumulative gain of 45%.
Sensex surges 350.81 points to settle at lifetime high of 74,227.63; Nifty climbs 80 points to record 22,514.65
— Press Trust of India (@PTI_News) April 4, 2024
The market reached its peak on April 1 as well
On April 1, the Sensex had touched a high of 74,254.62 points. After this it closed at 74,014. The Nifty touched a high of 22,462 on the same day. The 50-share BSE Sensex touched an intra-day high of 22,529.95 points.
