The Indian stock market on Thursday rallied amid the anticipation of the policy rate cuts by the Reserve Bank of India (RBI). formation of BJP-led government in Maharashtra, and foreign buying, ending in the green territory.
The Sensex climbed 445.29 points, or 0.56 per cent, to close at 80,248.08, while the Nifty 50 advanced 142.90 points, or 0.59 per cent, to settle at 24,274.00. The day saw robust buying activity, with 31 of the 50 Nifty-listed stocks recording advances, while 18 ended in the red.
Domestic stock markets saw selling pressure on Thursday due to the decline in tech heavyweight stocks, lack of major global cues, and weak Asian market.
The domestic stock markets on the last working day of the week erased the losses after taking support from positive global cues that included an indication of strength in the labor market of the United States and positive sentiments in other Asian markets.
Among Nifty-listed companies, 19 stocks advanced, 30 declined, and 1 remained unchanged. Power Grid, Trent, HCL Technologies, Infosys, and Tech Mahindra led the gains, while Asian Paints, Britannia, Apollo Hospitals, Cipla, and ONGC registered significant losses.
Bajaj Auto, HDFC Bank, Asian Paints, Mahindra & Mahindra (M&M), and Eicher Motors emerged as the top gainers, while Tata Consumer Products, Kotak Bank, Bajaj Finserv, Bharat Petroleum Corporation Limited (BPCL), and IndusInd Bank were the biggest losers of the session.
The BSE Sensex fell by 494.75 points, or 0.61 per cent, to close at 81,006.61, while the NSE Nifty declined by 221.45 points, or 0.89 per cent, to settle at 24,749.85.