The stock market ended the trading session on a strong note in the last session of the week. National Stock Exchange’s index NSE Nifty declined by 0.95 points to close at 22513.70, while Bombay Stock Exchange’s Sensex closed at 74248.22, rising by 20.59 points. Similarly, Bank Nifty index closed at 48493.05, up 432.25 points. Benchmark indices Sensex and Nifty remained under control due to the announcement by the Reserve Bank of India (RBI) on April 5 to keep the policy rate i.e. repo rate unchanged at 6.5 percent.
Gain was recorded in 2,089 shares
The market dynamics were in favor of the gainers. In the market, there was an increase in 2,089 shares, a decline in 1,303 shares and no change in 89 shares. With India’s GDP growth remaining strong, market experts believe there is little incentive for the MPC to cut rates, especially as inflation pressures have not fully subsided. Realty and bank shares outperformed other sectoral indices, while IT and media shares declined.
IREDA shares jumped 14.6%
Shares of IREDA jumped 14.6% to intraday high of Rs 181.55 from the previous closing level of Rs 158.35. The stock reached its 52-week high of Rs 214.80 on February 06. Whereas on November 29, 2023, it touched its 52-week low of Rs 50. L&T, ICICI Bank, Axis Bank, Bajaj Finance and Bharti Airtel are the five stocks dragging down the Nifty 50. Mid and small caps outperformed the benchmarks and posted good gains.
BSE Midcap and Smallcap indices gained 0.50 per cent each. On Friday, most sectoral indices closed with gains. Nifty Realty (up 1.43 per cent), Nifty Bank (up 0.90 per cent), Private Bank (up 0.90 per cent) and Financial Services (up 0.86 per cent) closed with healthy gains.
Latest Business News