Markets extend rally to 4th day, Banks, Oil & Gas lift market optimism

The Nifty and Sensex extended their upward momentum for the fourth straight session on Thursday, led by gains in bank and energy stocks. According to estimates, the rally added a massive Rs 4.96 lakh crore to the overall market capitalisation. At close, the Sensex was up 1,508.91 points or 1.96 percent at 78,553.20, and the Nifty was up 414.45 points or 1.77 percent at 23,851.65. About 2340 shares advanced, 1468 shares declined, and 149 shares unchanged.
Bharti Airtel, ICICI Bank, Bajaj Finance, Sun Pharma, Eternal were the tol gainers on the Nifty, while losers included Wipro, Hero MotoCorp, Tech Mahindra, Coal India and JSW Steel.On the sectoral front,all the sectoral indices ended in the green with telecom, PSU Bank, Oil & Gas, pharma, auto, energy, private bank rose 1-2 percent.BSE Midcap and smallcap index added 0.5 percent each.
Market This Week
●Market records biggest weekly gain in more than 2 years,
●Sensex, Nifty & Midcap index post gains of over 4% each,
●Nifty Bank rises the most amongst frontlines, up over 6%,
●Nifty Bank, led by heavyweights sees biggest weekly gain in nearly 2 years
●All Sectoral indices see gains, realty & financials top gaining indices
The Indian stock and commodity markets will remain closed on Friday, April 18, 2025, on account of Good Friday.
Rupee Close:
On 17 April'25,the Indian rupee appreciated for the fourth consecutive session and ended 27 paise higher at 85.37  against the US dollar on Thursday, registering the April 3 closing level, on the back of foreign fund inflows in domestic equities and broad weakness in the greenback.
Trading Guide:
Vinod Nair, Head of Research, Geojit Investments reportedly quoted as saying,a strong rally in large-cap stocks was observed today, primarily driven by financials, amid expectations of improved margins stemming from changes in savings deposit interest rates. Positive sentiment was further supported by a reversal in FII flows, although the sustainability of this trend remains uncertain. Nonetheless, optimism surrounding the domestic market persists, bolstered by the expectation of a favourable outcome from US-India trade negotiations and a relatively minimal disruption from the US-China trade tensions. Additionally, a moderating inflation trajectory towards more comfortable levels is further enhancing market sentiment. Market experts recommended three shares to buy — Bank of Maharashtra, DCW, and Shriram Properties.

(Business Correspondent)