Indices rally for second consecutive day; Sensex surges 874 points aided by RIL, Infosys, HDFC twins

Share market today: The S&P BSE Sensex surged 874.18 points (1.53 per cent) to end at 57,911.68 while the Nifty 50 settled at 17,392.60, up 256.05 points (1.49 per cent).

Stock Market Today, Share Market Today, Sensex, Nifty

BSE. (File express photo)

The benchmark equity indices on the BSE and National Stock Exchange (NSE) continued their winning momentum for the second straight day and ended around 1.5 per cent higher on Thursday led by gains in market market heavyweights Reliance Industries (RIL), Infosys and HDFC twins amid a mixed trend in global markets.

The S&P BSE Sensex surged 874.18 points (1.53 per cent) to end at 57,911.68 while the Nifty 50 settled at 17,392.60, up 256.05 points (1.49 per cent). Both the indices had opened over 0.5 per cent higher and rose further as the session progressed with the BSE benchmark hitting 57,991.53 and the NSE barometer touching 17,414.70.

On the Sensex pack, Mahindra & Mahindra, Maruti Suzuki India, Bajaj Finserv, Asian Paints, RIL, Kotak Mahindra Bank, Housing Development Finance Corporation (HDFC), Tata Consultancy Services (TCS) and Sun Pharmaceutical Industries were the major gainers on Thursday while Tata Steel, Bharti Airtel and Nestle India were the laggards.

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In the broader markets, the S&P BSE MidCap ended at 24,873.78, up 314.05 points (1.28 per cent) while the S&P BSE SmallCap settled at 29,358.43, up 385.20 points (1.33 per cent).

“Nifty rose for the second consecutive session with an upgap. It is now close to filling the downgap of 17,457 made on April 18 which could be a resistance in the near term post which 17,560 will act as such. On falls 17,238 could provide support. Advance decline ratio rose smartly to much above 1:1 but the Small and Midcap indices gains are still lagging those of the largecaps, suggesting shift of trading interest to largecaps,” said Deepak Jasani, Head of Retail Research at HDFC Securities.

Global market

Global shares were mixed in choppy trading on Thursday as inflation worries and the war in Ukraine left investors cautiously optimistic.

European shares were mostly higher in early trading after a mixed session in Asia. Oil prices advanced and US futures were higher.

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France’s CAC 40 gained 1.5 per cent in early trading to 6,727.22, while Germany’s DAX added 1.1 per cent to 14,516.80. Britain’s FTSE 100 inched down less than 0.1 per cent to 7,625.70. The future for the Dow industrials adding 0.6 per cent while the S&P 500 future was 0.8 per cent higher.

Shanghai’s benchmark fell 2.3 per cent to 3,079.81 after Chinese President Xi Jinping signalled no change in his government’s stringent “zero-COVID” policies despite their growing impact on the slowing economy. Japan’s benchmark Nikkei 225 jumped 1.2 per cent to finish at 27,553.06.

Australia’s S and P/ASX 200 added 0.3 per cent to 7,592.80. South Korea’s Kospi surged 0.4 per cent to 2,728.21. Hong Kong’s Hang Seng slipped 1.3 per cent to 20,682.22.

-global market input from AP