The 834-point rally for Sensex was its biggest since September 25, 2019. Nifty reclaimed 14,500 after two sessions of wait, lifting combined market values of three most valued companies by Rs 49,200 crore.
The breadth of the market was extremely weak as nearly four stocks fell for every that rose on the National Stock Exchange. All sectoral indices on the NSE also ended in the red.
Market Movers: Defence stocks surge; RIL, 22 others give buy signal
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The over 1 per cent rise in Reliance Industries’ stake was one of the major reasons both the Nifty 50 and Sensex ended the session in the green.
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The broader market also showed strength as the Nifty Midcap 100 and Nifty Smallcap 100 index closed 0.1 and 0.6 per cent higher, respectively.
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MUMBAI: A lacklustre session that saw the benchmark indices oscillate between gains and losses through most part of the session ended with a decisive upward move and lifetime closing highs.
The gains in the market were aided by positive cues from European peers and strong gains in other Asian markets. Rise in shares of index heavyweights
Market Movers: RIL, Tata Motors bolt higher; cash turnover hits 2-month high
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As many as 42 stocks on the NSE gave a buy signal based on MACD indicators, including prominent names like JSW Energy, Bank of India, Tata Coffee, Coal India, State Bank of India and Nippon Life India AMC.
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In the broader market, aggressive risk appetite among investors was visible as Nifty Midcap 100 and Nifty Smallcap 100 ended 0.7 per cent and 0.1 per cent, respectively.
MUMBAI: In a sign of the insatiable appetite of investors on the Street, benchmark equity indices shrugged off their initial weakness to end the day at their lifetime closing highs spurred by likely buying from foreign investors, said dealers.