Stock Market Today: Nifty Near 23,200, Sensex Surges Over 800 Points; Autos, Oil & Gas Fuel Rally
The NSE Nifty 50 closed 1.24% or 283 points higher at 23,190.65, while BSE Sensex added nearly 900 points or 1.2% to end at 76,348.
KEY HIGHLIGHTS
US Futures Marginally Lower
S&P 500: Down 0.04%
Dow Jones Industrial Average: Down 0.04%
Nasdaq: Down 0.02%
Rupee Vs Dollar: INR Ends Stronger
Rupee strengthened six paise to end at 86.38 against the US Dollar.
Source: Bloomberg
Nifty Near 23,200, Sensex Surges Over 800 Points
Indian equities posted their fourth consecutive day of gains on Thursday after the US Federal Reserve signaled more interest rate cutes later this year because any increase in inflation due to Trump's tariff policies will likely be brief.
The NSE Nifty 50 closed 1.24% or 283 points higher at 23,190.65, while BSE Sensex added nearly 900 points or 1.2% to end at 76,348.
Nifty close above 23,000 mark after 22 sessions
Last time Nifty closed above 23000 mark was on Feb. 14
Nifty ends higher for the 4th day in a row.
Nifty Smallcap 250 ends higher for the 4th day in a row.
Nifty ends higher by 1.2% for the day, led by Bharti Airtel, Titan and Britannia Industries.
Sensex ends up higher by 1.2% for the day.
Nifty Midcap 150 ends higher 0.5% for the day, led by Bharat Forge, Max Healthcare, Phoeni Mills.
Nifty smallcap 250 ends higher 0.8% for the day, led by Rajesh Exports, SCI and SPARC.
Nifty Oil and Gas is the top sectoral gainer for the day, led by GSPL, MGL and HPCL.
Nifty Oil and Gas, Metal, Pharma, Financials ends higher for the 4th day in a row.
Nifty Auto, Realty, PSU Banks end higher for the third day in a row.
Nifty Bank ends higher for the sixth day in a row.
Stock Market Live: NBFCs Look Attractive
Parag Thakkar of Fort Capital said he is positive on NBFCs given structural tailwinds.
"Cost of funds will ease out and liquidity will improve come April. Government has began spending since December and lending is going up," he said.
Macquarie On AB Capital
Maintain 'Outperform' with target price of Rs 260.
AB Capital is one of our top picks and on track to double in three years.
Recent underperformance offers a good opportunity.
Key catalysts - Rising margins driven by falling rates, growth in higher yielding unsecured loans, and falling credit costs leading to higher ROA.
Valuations a big support now.
