The benchmark equity indices on the BSE and National Stock Exchange (NSE) settled over 3 per cent higher on Thursday amid the expiry of April series futures and options (F&O) contracts.
The S&P BSE Sensex climbed 997.46 points (3.05 per cent) to settle at 33,717.62, while the Nifty 50 ended at 9,859.90, up 306.55 points (3.21 per cent). Both the indices had opened 2 per cent higher earlier in the day and rose around 3.5 per cent during the intraday session of trade.
On a weekly basis, the truncated week saw Sensex register a rise of 7.63 per cent, while the Nifty climbed 7.71 per cent during the week. Going ahead, the markets will remain shut on Friday on account of Maharashtra Day.
On the Sensex, gains on Thursday were led by Oil and Natural Gas Corporation (ONGC), HCL Technologies, Hero MotoCorp, Tata Consultancy Services (TCS), Maruti Suzuki India and Infosys. On the other hand, Sun Pharmaceutical Industries, Hindustan Unilever (HUL), IndusInd Bank and Asian Paints were the only stocks than ended lower on Thursday. (see heatmap below)
All the sectoral indices on the NSE except Nifty Media and Nifty Pharma ended higher on Friday. The Nifty Metal index was the biggest sectoral gainer of the day, as it rose 7.90 per cent led by gains in APL Apollo Tubes, Vedanta, Hindalco Industries and JSW Steel. It was followed by Nifty Auto index which climbed 6.45 per cent driven by Tata Motors and Hero MotoCorp. The Nifty IT index too rose 5.09 per cent led by HCL Technologies and TCS.
Here’s how the sectoral indices performed:
In the broader market, the S&P BSE MidCap index settled at 12,013.45, up 173.25 points (1.46 per cent), while the S&P BSE SmallCap index ended at 11,101.84, up 126.68 points (1.15 per cent).
Market participants will closely lookout for March quarter results of oil-to-telecom behemoth Reliance Industries (RIL), fast-moving consumer goods bellwether HUL and information technology (IT) major Tech Mahindra which are set to be released later today.
“Market ended positive for the fourth day in a row, on the back of positive signals from global markets. Successful trials of a COVID-19 vaccine helped the global markets gain some positivity. Domestically, indications of easing of lockdown measures and stimulus hopes helped drive the markets. Being F&O expiry day today, short-covering and roll-overs in the market also contributed to the gains. Financials and IT contributed most to the gains in the benchmark indices along with Reliance, ahead of its results. Next week outlook will be driven by the way forward for resumption of business after lockdown, announcement of any stimulus package and stock-specific earnings results” Vinod Nair, Head of Research at Geojit Financial Services, said in a statement after market ended.
The rupee surged 57 paise to close at 75.09 against the US dollar on Thursday, amid higher domestic equity markets and a weak American currency in the overseas market, news agency PTI reported.
This is the fourth consecutive day of gain for the rupee, during which it has appreciated by 137 paise. At the interbank foreign exchange, the rupee opened at 75.17. During the session, it touched an intra-day high of 74.94 and a low of 75.20.
The domestic currency finally settled at 75.09, registering a rise of 57 paise over its previous close. On Wednesday, the local unit had settled at 75.66 against the greenback.
World stocks headed for their best month on record on Thursday, as encouraging early results from a COVID-19 treatment trial and expectations of more European Central Bank (ECB) stimulus later in the day helped ease the pain of February and March.
Europe saw a cautious start with oil firm Shell’s first dividend cut in 80 years, a record drop in French first quarter GDP and surge in German unemployment all giving traders an excuse for some pre-ECB profit taking.
Not that it mattered. Easing coronavirus worries mean the STOXX 600 is up more than 25 per cent over the last six weeks.
April will be Europe’s best month since 2009 and for MSCI’s World Index, it could be best since it started in the late
– with global market inputs from Reuters
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