Sensex gains 655 points in broad-based rally, Nifty nears 22,400

The domestic share market indices traded on a higher note on the last day of FY24 and extended the winning run for the second consecutive day on Thursday, led by banking and IT counters.High volatility is expected ahead of monthly derivatives expiry,as per experts opinion.At close, the Sensex was up 655.04 points or 0.90 percent at 73,651.35, and the Nifty was up 203.26 points or 0.92 percent at 22,326.90. About 1912 shares advanced, 1784 shares declined, and 103 shares unchanged.
Bajaj Finserv, Grasim Industries, Hero MotoCorp, Bajaj Finance and Eicher Motors were the top gainers on the Nifty, while losers included Shriram Finance, Tech Mahindra, Axis Bank, Reliance Industries and Britannia Industries.
On the sectoral front,all the indices ended in green with auto,healthcare, metal, power, capital goods up 1 percent each, while oil & gas, Information Technology, bank, realty, FMCG gained 0.5 percent each.The BSE midcap index added 0.6 percent and the smallcap index was up 0.3 percent.
Rupee Close
On 28 Mar'24,the Indian rupee ended marginally lower at 83.33 against the U.S. dollar in early trade on Thursday amid a strong American currency and higher crude oil prices.
Forex traders said the positive equity markets and inflow of foreign funds resisted the fall in the Indian currency.
Trading Guide:
Market experts have recommended seven stocks to buy today —Chambal Fertilizers & Chemicals, State Bank of India, Parag Milk Food, Clean Science & Technology Ltd, NHPC, Reliance Industries and Birlasoft.The market will remain closed on March 29 on account of Good Friday.

(Writer is a Finance Research Analyst, based in Gandhinagar, Gujarat)