Stock market today
:
BSE Sensex
and Nifty50, the Indian equity benchmark indices, surges in trade on Thursday as the market reacted positively to the NDA forming the government in the coming days. While BSE Sensex settled above the 75,000 mark,
Nifty50
moved above 22,800. BSE Sensex closed the day at 75,074.51, up 692 points or 0.93%. Nifty50 ended the day at 22,821.40, up 201 points or 0.89%.
The top Sensex 30 gainers included Tech Mahindra, HCL Tech, SBI, NTPC, Infosys, L&T and TCS.
The top Sensex 30 losers included HUL, Asian Paints, M&M, Nestle India, IndusInd Bank, Sun Pharma and Axis Bank.
The Indian stock market is experiencing a strong rebound as sentiments improved following the confirmation that the NDA will form the government for a third consecutive term.
“In the very near term, we expect the market to remain obsessed with government formation exercises, with a keen eye on key cabinet portfolios such as Finance, Defense, Roads, Energy, Commerce, and Railways. With election overhang done, we expect the focus to revert to fundamentals,” said Yashovardhan Khemka, Senior Manager, Research & Analytics at Abans Holdings.
The market is expected to remain range-bound in the short term, with the Nifty likely to trade between 21,300 and 23,000, according to an ET report.
Foreign portfolio investors (FPIs) were net sellers, offloading shares worth Rs 5,656 crore on Wednesday, while domestic institutional investors (DIIs) also sold shares worth Rs 4,555 crore. The rupee recovered 7 paise to close at 83.44 against the US dollar, supported by strong buying in domestic equities and lower crude oil prices in international markets.
