Stock market update: Sensex, Nifty gains nearly 1%; HAL up 10%

Mahindra & Mahindra, Tata Consumers, Bharti Airtel, LTI Mindtree and Tech Mahindra were top gainers on the NSE, while Maruti, SBI, Tata Motors, Power Grid Corporation, and BPCL were top losers on Thursday’s trade.

Mahindra & Mahindra, Tata Consumers, Bharti Airtel, LTI Mindtree and Tech Mahindra were top gainers on the NSE, while Maruti, SBI, Tata Motors, Power Grid Corporation, and BPCL were top losers on Thursday’s trade.

HAL stock surged 10 per cent on the NSE closing at ₹4,637.90 after Q4 results. 

Mahindra & Mahindra closed at ₹2,393.90, higher by 3.98 per cent.

BSE Sensex closed higher by 676.69 pts, or 0.93 per cent, at 73,663.72, while the broader NSE Nifty50 ended at 22,403.85, 203.30 pts or, 0.92 per cent, higher.

Nifty Consumer Durables went up 1.72 per cent at 34,115.05. Nifty IT, realty, media, and financial services closed higher by 1 per cent each.

Vinod Nair, Head of Research, Geojit Financial Services, said, “The domestic market experienced a late surge, driven by strong global trends that pointed to lower-than-expected US consumer inflation figures, which suggests at least two interest rate cuts in 2024. Further, buoyancy in the broader market continues with exports increasing despite global economic uncertainties, leading the heavyweights’ sectors such as banking, IT, and industrials to outperform.”

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