The benchmark equity indices ended Thursday’s trading session in the positive territory. The NSE Nifty 50 gained 203.25 points or 0.92% to settle at 22,326.00, while the BSE Sensex jumped 655.04 points or 0.90% to 73,651.35. Bank Nifty index ended higher by 338.65 points or 0.72% to settle at 47,124.60.
The broader indices ended in positive territory, with gain led by Largecap and Midcap stocks. PSU Banks and Auto stocks outperformed among the other sectoral indices while Media stocks shed.
Grasim, Bajaj Finserv, Hero Moto Corp, Bajaj Finance, and Eicher Motors whereas the top gainers on the NSE Nifty 50, while the laggards includes Shriram Finance, Axis Bank, Bajaj Auto, Tech Mahindra, and Reliance Industries.
The Indian Volatility Index (India VIX) closed down by 0.15 %.
“Indian equities closed the day and fiscal year on an optimistic note, with volatility by the end of the session, as buying by retails, DIIs, and FIIs surged across categories. The mid- and small-cap stocks have emerged as frontrunners, rebounding from the initial sell-off earlier in the month,” said Vinod Nair, Head of Research at Geojit Financial Services
Nair also said that, an upgrade in the domestic economy forecast hints at an encouraging outlook for the stock market in FY25. However, the emphasis is on large-cap due to the persisting premium valuations of mid-cap stocks, which could pose a concern on the broad market in the short to medium term.
