Leaders Online Desk: The Indian stock market continued to rise for the fifth consecutive session on Thursday (25th). The Sensex rose nearly 700 points to touch 74,570 in today's trading session on the back of buying in banking stocks. While Nifty crossed the figure of 22,570. The Sensex then rose 486 points to settle at 74,339. Nifty rose 167 points to close at 22,570. Buying was seen in all sectors today except realty. Especially in PSU bank and pharma shares, buying pressure remained high. The PSU bank index rose nearly 4 percent. (Stock Market Closing Bell)
Who are the top gainers, top losers?
Axis Bank, SBI, JSW Steel, Nestle India, Sun Pharma, ITC, NTPC, ICICI Bank, ITC, HCL Tech, Bajaj Finance, IndusInd Bank were the gainers on Sensex. While the shares of Kotak Bank, Hindustan Unilever, Titan, Bajaj Finance fell.
On NSE Nifty, Axis Bank, SBI, Dr. Reddy's, JSW Steel, Sun Pharma were the top gainers. While Kotak Bank, LTIMindtree, Hindustan Unilever, SBI Life and Titan were the top losers.
Purchase thrust in banking
A buying atmosphere was seen today especially in banking shares. In banking, Axis Bank shares remained on top. The stock rose as much as 6 percent to Rs 1,128 on the NSE. Along with this, Bank Nifty recorded an increase to 48,600 due to the rise in the shares of SBI, Bank of Baroda, ICICI Bank.
Shares of Kotak Bank fell by 12 percent
Meanwhile, Kotak Mahindra Bank Share Price (Kotak Mahindra Bank Share Price) tumbled today following the restrictions imposed by the Reserve Bank of India (RBI). Shares of Kotak Mahindra Bank were the top losers on the BSE Sensex in today's trading session. The stock fell around 12 percent to Rs 1,620. The RBI on Wednesday barred Kotak Mahindra Bank from adding new customers and issuing new credit cards with immediate effect, citing data security concerns and lack of IT infrastructure. Meanwhile, the bank can continue to serve its existing customers, who are credit card holders. This action affected the shares of Kotak Bank.
Axis Bank overtook Kotak Bank
Shares of Axis Bank rose 5 percent to Rs 1,125 on Thursday on better-than-expected performance. Axis Bank reported a strong profit of Rs 7,129.67 crore in the March quarter. Due to this, the shares of Axis Bank (Axis Bank Share Price) traded in a bullish manner. Meanwhile, Axis Bank has overtaken Kotak Mahindra Bank to become the fourth largest lender by market capitalisation. Kotak Bank's market capitalization fell to Rs 3.3 lakh crore. Axis Bank's capital reached Rs 3.4 lakh crore. (Stock Market Closing Bell)
Maggi-maker Nestlé on the rise
Maggi-maker Nestlé India on Thursday announced a dividend of Rs 8.50 per share while announcing its March quarter financials. Against this backdrop, shares of Nestlé rose over 2 percent to Rs 2,577 on the NSE. After that, the shares settled at Rs 2,563. (Nestle India Share Price)
Shares of LTIMindtree fell
Shares of IT services company LTIMindtree fell 2 percent to Rs 4,600 on the BSE. The company's fourth quarter results failed to make an impression on the stock market, which saw its shares fall. (LTIMindtree Share Price)
Read this:
