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Business News/ Markets / Stock Markets/  Stock market today: Nifty 50, Sensex end higher; mid, smallcaps outperform; investors earn over 6 lakh crore in a day
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Stock market today: Nifty 50, Sensex end higher; mid, smallcaps outperform; investors earn over ₹6 lakh crore in a day

Stock market today: Nifty 50 closed the day at 22,462, up 135 points, or 0.61 per cent while the Sensex ended the day with a gain of 363 points, or 0.49 per cent, at 74,014.55.

Stock market today: Nifty 50 closed the day at 22,462 while the Sensex ended the day at 74,014.55. (Agencies)Premium
Stock market today: Nifty 50 closed the day at 22,462 while the Sensex ended the day at 74,014.55. (Agencies)

Stock market today: The Indian stock market benchmarks, Nifty 50 and Sensex closed with significant gains on Monday, April 1, after hitting new record highs during the session. Investors bought shares across various sectors, buoyed by a positive outlook of the domestic market.

Nifty 50 opened at 22,455, up 128 points against the previous close of 22,326.90 and rose about 2023 points to hit its fresh record high of 22,529.95 during the session. The index finally closed the day at 22,462, up 135 points, or 0.61 per cent.

Sensex opened 317 points higher at 73,968.62 against its previous close of 73,651.35 and jumped as much as 603 points to hit its fresh all-time high of 74,254.62. The Sensex ended the day with a gain of 363 points, or 0.49 per cent, at 74,014.55.

Also Read: Nifty 50, Sensex hit fresh all-time high; why is Indian stock market gaining today?- Explained

Shares of HDFC Bank, Larsen & Toubro and Tata Steel ended as the top contributors to the gains in the Sensex index.

Mid and smallcap indices clocked robust gains. The BSE Midcap index rose 1.64 per cent while the Smallcap index jumped 2.98 per cent.

The overall market capitalisation (mcap) of BSE-listed firms rose to nearly 393.2 lakh crore from nearly 387 lakh crore in the previous session, making investors richer by nearly 6.2 lakh crore in a single session.

Nearly 170 stocks, including Larsen & Toubro, Tata Steel, Adani Ports, DLF, Ambuja Cements, IndiGo, ICICI Prudential Life Insurance Company and Grasim Industries, hit their fresh 52-week highs in intraday trade on BSE.

Also Read: Over 15,000% returns in 4 years! This multibagger stock turned 1 lakh into 1.5 crore

Top Nifty 50 gainers today

As many as 31 stocks ended with gains in the Nifty 50 index, with shares of JSW Steel, Tata Steel and Divi's Laboratories ending as the top gainers.

Top Nifty 50 losers today

Eicher Motors, Titan and Nestle India ended as the top losers in the Nifty 50 pack.

Some 18 stocks ended with losses while one stock - Cipla- ended flat.

Also Read: Top Gainers and Losers today on 1 April, 2024: JSW Steel, Tata Steel, Eicher Motors, Titan Company among most active stocks; Check full list here

Sectoral indices today

Barring Nifty Auto (down 0.16 per cent) and FMCG (down 0.11 per cent), all sectoral indices ended higher.

Nifty Media (up 4.69 per cent), Realty (up 4.36 per cent) and Metal (up 3.70 per cent) clocked strong gains.

Nifty Bank rose 0.96 per cent. The PSU Bank index rose 1.51 per cent while the Private Bank index rose 1.03 per cent.

Also Read: Nifty Auto soars 75% in FY24; what lies ahead for the sector? Here's what experts predict

Expert views on markets

"The Indian market boarded on a strong trajectory at the onset of the new financial year, with indications pointing towards a continuation of this favourable momentum, in the near term. This confidence is supported by a global rally in expectation of a Fed rate cut in June and a healthy domestic earnings growth forecast in Q4FY24," said Vinod Nair, Head of Research, Geojit Financial Services.

"Metal stocks excelled today, owing to the swift pace of Chinese PMI data, indicating traction in the economic recovery. Going ahead, RBI monetary policy, India PMI data, and US non-farm payroll data will set the direction of the market," said Nair.

Technical views on Nifty 50

"The Nifty has been witnessing a sharp up-move since the past couple of trading sessions and we expect the momentum to continue," said Jatin Gedia, Technical Research Analyst at Sharekhan by BNP Paribas.

"The hourly momentum indicator has triggered a negative crossover which can lead to a consolidation and a dip towards 22,400 – 22,350 is possible, however, it should be used as a buying opportunity as the overall trend appears positive. If Nifty manages to sustain above 22,500 then there shall be a further upside till 22,670 – 22,740," Gedia said.

Read all market-related news here

Disclaimer: The views and recommendations above are those of individual analysts, experts and broking companies, not of Mint. We advise investors to check with certified experts before making any investment decisions.

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Published: 01 Apr 2024, 03:30 PM IST
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