On Monday, Sensex surged by 114.92 points or 0.19% to close at 59,106.44. Nifty 50 jumped by 38.30 points or 0.22% to end at 17,398.05. Smallcap stocks were top performers. Oil and gas stocks are under pressure, while auto stocks rallied robustly post the monthly sales figures.
Sensex and Nifty 50 gained by nearly a percent tracking strong global cues. The focus has shifted towards RBI s monetary policy and fourth-quarter earnings season. Midcap and smallcap stocks saw a turnaround and snapped their previous days losing streak in the current week.
The next big thing for the Indian market would be RBI s first bi-monthly monetary policy for the financial year FY24. Also, last quarterly results of FY23 will contribute in swaying sentiments. On Tuesday, investors showed cautious tone in Sensex and Nifty 50 ahead of these major events.
Although, Sensex and Nifty 50 ended in green, the gains were capped due to heavy losses in small-cap stocks. Healthcare stocks outperformed, while auto, capital goods and consumer durables stocks weighed on the mood.
Indian equities on Thursday closed in the red with banking stocks taking a massive toll. Sensex erased its psychological mark of 58,000 and Nifty 50 came below the 17,100 level.