Amidst negative sentiments from global capital markets, Indian stock markets performed satisfactorily well on Thursday as Sensex crossed the 60000 mark for the first time in four months. Nifty 50 of the National Stock Exchange remained mostly flat as the index held its position at 17,950.
Profit-making performance by domestic stocks in the Indian exchanges, along with signs of decreasing aggressiveness of central banks on monetary policy, kept Indian indices above the red line.
The overall market capitalisation of firms listed on the Bombay Stock Exchange rose to 280.57 lakh crore rupees.
S&P BSE SENSEX of Bombay Stock Exchange gained 37.87 points on Thursday to close the market at 60,298.00. Sensex which closed at 60,260.13 points on Wednesday, opened at 60,080.19 points on Thursday and went as high as 60,341.41 points. The lowest level touched today was below the 60k mark at 59,946.44.
Top gainers on Sensex were Kotak Mahindra Bank, Larsen and Toubro, Bharti Airtel, Indus Ind Bank, Ultra Tech Cement and Power Grid.
Telecom giant Bharti Airtel Ltd gained 11.5 rupees per share to conclude trading at 733.25. The company which is second-largest telecom operator in India had earlier announced that it has made an advance payment of 8,312.4 crore Indian rupees to the Indian government for the allocation of the 5G spectrum it had obtained through the auction. Within hours of making an advance payment, government announced that it has allotted the telecom operator the spectrum. This furthermore increased confidence of traders in the stock.
Out of banking stocks, nearly all stocks including the state bank of India, ICICI Bank and HDFC Bank made gains on Thursday. Only stock of Axis Bank ended in red from banking stocks on Sensex.
Top losers on Thursday were Dr Reddy’s Laboratories, Wipro, Infosys, Mahindra and Mahindra, Axis Bank, and Nestle India.
Out of 30 stocks traded on the Sensex, only 14 stocks advanced on Thursday, and the rest of the 16 stocks suffered losses.
The Benchmark index of the national stock exchange, Nifty 50, gained 12.25 points on Thursday to close the market at a last traded price of 12.25. Nifty 50, which closed at 17,944.25 points on Wednesday, opened at 17,898.65 today and went as high as 17,968.45 during intraday trading.
Top gainers on the Nifty 50 on Thursday were Kotak Mahindra Bank, Larsen and Toubro, Tata Consumers Products Limited , Indus Ind Bank, Ultra Tech Cement and Bharti Airtel.
Dr Reddy’s Laboratories, UPL, Wipro, BPCL and Infosys became top losers on Nifty 50 today.
Out of 50 stocks traded on the index, 24 stocks advanced as 25 stocks suffered losses. The stock of Bajaj auto ended the trading day with no changes in its share value.