Bulls take control as Nifty tops 17,490; Financial stocks lead, while Metal stocks decline

30 Mar 2022 , 03:50 PM

Domestic equities closed higher extended gains for the third straight session following positive global cues, as progress in Russia-Ukraine peace talks. However, inflationary pressures in the U.S economy continue to pose a threat with FED gearing up for a more aggressive monetary policy tightening. Today major contributor to the index gain was Reliance Industries, HDFC twins, ICICI Bank, Bajaj Finance, and Kotak Bank.

The BSE Sensex soared 740 points or 1.28 per cent to close at 58,684, while the broader NSE Nifty moved 173 points or 1 per cent higher to settle at 17,498.

Nifty Midcap and Nifty Smallcap were up 0.83% and 0.87% respectively.

Most sectoral indices ended in green except Nifty Pharma (-0.2%) and Nifty Metal (-2.24%). Nifty Media increased the most at 2.13% followed by Nifty Fin Service which popped at 1.92%.

Bajaj Finserv, Hero MotoCorp, Grasim, Tata Consumer, M&M, and Axis Bank are among the top gainers, however, losses in ONGC, Hindalco, JSW Steel, ITC and Tata Steel top losers on the Nifty 50.