Stock market today: Nifty 50, Sensex end higher; mid, smallcaps outperform; investors earn over ₹6 lakh crore in a day
BSE Midcap index rose 1.64 per cent while the Smallcap index jumped 2.98 per cent. The overall market capitalisation (mcap) of BSE-listed firms rose to nearly ₹393.2 lakh crore from nearly ₹387 lakh crore in the previous session, making investors richer by nearly ₹6.2 lakh crore in a single session. Nearly 170 stocks, including Larsen & Toubro, Tata Steel, Adani Ports, DLF, Ambuja Cements, IndiGo, ICICI Prudential Life Insurance Company and Grasim Industries, hit their fresh 52-week highs in intraday trade on BSE.
As many as 31 stocks ended with gains in the Nifty 50 index, with shares of JSW Steel, Tata Steel and Divi's Laboratories ending as the top gainers. Eicher Motors, Titan and Nestle India ended as the top losers in the Nifty 50 pack. Some 18 stocks ended with losses while one stock - Cipla- ended flat.
Barring Nifty Auto (down 0.16 per cent) and FMCG (down 0.11 per cent), all sectoral indices ended higher. Nifty Media (up 4.69 per cent), Realty (up 4.36 per cent) and Metal (up 3.70 per cent) clocked strong gains. Nifty Bank rose 0.96 per cent.
The PSU Bank index rose 1.51 per cent while the Private Bank index rose 1.03 per cent. "The Indian market boarded on a strong trajectory at the onset of the new financial year, with indications pointing towards a continuation of this favourable momentum, in the near term. This confidence is supported by a global rally in expectation of a Fed rate cut in June and a healthy domestic earnings growth forecast in Q4FY24," said Vinod Nair, Head of Research, Geojit Financial Services.
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