Benchmark stock market indices concluded Thursday’s trading session positively after initially declining.
By the closing bell, the S&P BSE Sensex had risen by 141.34 points to reach 77,478.93, while the NSE Nifty50 gained 45.7 points to settle at 23,561.7.
The broader market indices also rebounded, finishing the session positively with a notable decrease in volatility.
Leading the gains were sectoral indices like Nifty Realty, Nifty Metal, and Nifty Bank, while Nifty Pharma experienced the most significant decline.
Among the top performers on the Nifty50 were Hindalco, Grasim, JSW Steel, BPCL, and Adani Ports, while Hero MotoCorp, M&M, Sun Pharma, HDFC Life, and NTPC faced notable declines.
Vinod Nair, Head of Research at Geojit Financial Services, observed, "Despite encountering considerable volatility, the domestic market closed in positive territory today. In the short term, investor focus is likely to centre around the upcoming Union budget and the progress of the monsoon."
"In the global context, the decline in US bond yields has encouraged robust foreign institutional investor (FII) inflows in recent days. Fertilizer stocks have shown strong momentum, driven by proposed GST removal and MSP hikes," he added.
Prashanth Tapse, Senior VP (Research) at Mehta Equities Ltd, remarked, “The markets showed early volatility but settled positively, trading in a range-bound manner thereafter as investors turned to selective stock picking after a recent record-breaking spree. With US indices closed on Wednesday, domestic investors remained cautiously optimistic.”
