Stock market today: Day trading guide for Nifty 50 to Sensex, seven stocks to buy or sell today — April 2
Stock market today: On account of positive global market sentiments, the Indian stock market ended higher for the third day in a row on Monday. The Nifty 50 index hit a new peak of 22,529 whereas the BSE Sensex touched a new lifetime high of 74,254. The Bank Nifty index finished 453 points higher at the 47,578 mark.
However, the broad market continues to outperform the frontline indices of Dalal Street. The small-cap index skyrocketed nearly 3 percent whereas the mid-cap index surged 1.64 percent. "Domestic equities started the new financial year on a strong note and touched a new all-time high.
It continued the previous day's momentum following positive economic data releases from the US and China. Nifty opened the gap up and maintained strength throughout the session to close with gains of 135 points (+0.6%) at 22462 levels. The broader market sharply outperformed with Nifty Midcap100/ Nifty SMallcap100 rallying 1.7%/3.3%.
Except Auto and FMCG all the sectors ended with gains. Realty and Metals were the biggest gainers of ~4%. India's housing demand witnessed robust growth in the first quarter of 2024 with unsold inventory falling to 7%, leading to a rally in realty stocks.
Metal stocks too saw buying interest post robust PMI data release from China. However, auto stocks saw subdued interest after posting a mixed set of monthly sales numbers. Overall, global sentiments got a boost led by lower than expected US PCE data and robust US GDP numbers which strengthened the hopes of a rate cut," said Siddhartha Khemka, Head of Retail Research at Motilal Oswal.
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