Image for representational purpose only. , Photo Credit: PTI
Benchmark indices Sensex and Nifty ended the last day of 2022-23 financial year March 31 with jumps of nearly 2% tracking a firm trend in global markets and heavy buying in index major Reliance Industries.
Fresh foreign fund inflows also added to the positive momentum in the equity market.
The 30-share BSE Sensex ended 1,031.43 points or 1.78% higher at 58,991.52. During the day, it gained 1,108.38 points, or 1.91%, to 59,068.47.
The broader NSE Nifty climbed 279.05 points, or 1.63%, to close at 17,359.75.
Among Sensex firms, Reliance Industries emerged as the biggest gainer as it jumped over 4%. Nestle, Infosys, ICICI Bank, Tata Motors, Tata Consultancy Services, HCL Technologies, Tech Mahindra and Axis Bank were the other major winners.
Sun Pharma, Asian Paints, Bajaj Finance and Titan were among the laggards.
In the Asian markets, Seoul, Japan, Shanghai and Hong Kong closed in the green.
European markets were trading with gains in the afternoon trade. US markets closed in positive territory on Thursday.
“As the financial year came to an end, the banking and IT sectors witnessed a sharp rally in the markets, driven by strong global cues. In particular, moderation in Indian stock valuations led to increased interest from foreign institutional investors. Aided ,” said Vinod Nair, head of research at Geojit Financial Services.
Indian stock markets were closed on Thursday on the occasion of ‘Ramanavami’.
The 30-share BSE benchmark closed 346.37 points or 0.60% higher at 57,960.09 on Wednesday. The Nifty closed at 17,080.70, up 129 points or 0.76%.
Meanwhile, global oil benchmark Brent crude fell 0.11% to $79.18 per barrel.
Foreign portfolio investors (FPIs) were net buyers on Wednesday as they bought equities worth Rs 1,245.39 crore, according to exchange data.