Market Closing Bell: Sensex, Nifty end volatile session over 1% higher
From the 30-Sensex firms, Trent jumped the most by 7.89 per cent. Axis Bank, Titan, Larsen & Toubro, UltraTech Cement and Bajaj Finance were also among the major gainers.
Indian benchmark indices ended today's volatile session in green as value buying gained traction across the board. While Sensex rose 787.30 points or 1.07 per cent to end at 74,106.85, the Nifty gained 255.15 points at 22,968.25. During the day, Sensex had touched a low of 72,728.66, and Nifty tumbled to 22,542.95. Also, BSE surged 887.91 points, or 1.21 per cent, to 74,207.46, and the 50-share NSE Nifty edged higher by 255.15 points, or 1.12 per cent, to end at 22,968.25. Among sectors, the consumer, PSU banks and realty indices rallied over 2 per cent, whereas the oil and gas index was the top loser, shedding over 1.30 per cent.
"Technically, after a muted open, the market found support near 22,550/72700 and reversed sharply. On daily charts, it has formed a bullish candle, and on intraday charts, it is holding a higher bottom formation, which is largely positive...We consider 22,700/73500 and 22,550/72700 as key support zones for traders, while 23,150/74500 and 23,300/75000 could act as crucial resistance levels. However, if the index falls below 22,550/72700, the uptrend may become vulnerable. In such a scenario, traders may prefer to exit their long positions," said Shrikant Chouhan, Head Equity Research, Kotak Securities.
Trent among the biggest gainers
From the 30-Sensex firms, Trent jumped the most by 7.89 per cent. Axis Bank, Titan, Larsen & Toubro, UltraTech Cement and Bajaj Finance were also among the major gainers. On the other hand, Reliance and Sun Pharma were the laggards, with Reliance falling 3.41 per cent.
FIIs remained net sellers
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 9,931.13 crore on Thursday, according to exchange data. Domestic Institutional Investors (DIIs), however, bought stocks worth Rs 7,208.41 crore.
On Thursday, the 30-share BSE Sensex settled higher by 185.23 points, or 0.25 per cent, at 73,319.55. The Nifty closed at 22,713.10, up by 33.70 points, or 0.15 per cent.
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(This article is for informational purposes only and should not be construed as investment, financial, or other advice.)