Fantastic Friday! Nifty settles above 17,680; Sensex ends above 59,200 levels, climbs over 700 pts; NTPC, BPCL stocks surge

1 Apr 2022 , 03:51 PM

Equity benchmarks closed higher on the first day of the financial year 2023 starting today amid a surge in banking and power companies’ stocks. The stock markets returned to the green zone as benchmarks edged higher in the afternoon trade after opening on a weak note on Friday.

The 30-share BSE Sensex zoomed 708 points or 1.21 per cent to close at 59,277, while the broader NSE Nifty moved 206 points or 1.18 per cent higher to settle at 17,670.

Mid- and small-cap shares finished on a strong note as Nifty Midcap 100 index rose 1.49 per cent lower and small-cap gained 1.68 per cent.

Today’s top gainers on the Nifty 50 included – NTPC, BPCL, Power Grid, IndusInd Bank and HDFC. On the downside, Divis Lab, SBI Life, Dr Reddy’s, Apollo Hospital and Sun Pharma are in today’s session.

Sectorally, the Nifty PSU Bank index jumped 4 per cent amid a surge seen in Union Bank, Bank of India, Canara Bank, and Bank of Maharashtra. The Nifty Bank, Private Bank, Media, Financial Services, Realty, and FMCG also gained in today’s trade.

Meanwhile, European markets nudged higher to start the second quarter on Friday, with talks between Russia and Ukraine continuing to guide investor sentiment. The pan-European Stoxx 600 added 0.4 per cent with banks and retail climbing 1.3 per cent to lead gains.