Indian Indices Rally on Asian Market Boost; Auto Sector Leads Gains

18 Apr 2024 , 01:40 PM

Indian benchmark indices witnessed gains on Thursday, following the upward trend in Asian markets, which bolstered investor sentiment. The Sensex surged by 431.94 points or 0.59% to reach 73,375.62, while the Nifty climbed by 151.80 points or 0.69%, reaching 22,299.70.

Market breadth was positive, with 2342 shares advancing, 889 shares declining, and 86 shares remaining unchanged.

Notably, among heavyweight indices, the Auto index recorded the highest gains, followed by the Consumer Durables and Oil & Gas indices, contributing to the overall positive market sentiment. With the exception of Healthcare, all other sectoral indices also exhibited gains, reflecting broad-based market optimism.

The broader market indices outperformed the benchmark indices, with the BSE SmallCap index rising by 1.24% and the BSE MidCap index by 0.91%.

In the Nifty 50 index, 14 stocks witnessed declines, with Nestle India, Apollo Hospital Enterprises, Axis Bank, HCLTech, and Titan being the major laggards.

Conversely, Bharti Airtel, Power Grid Corp., Mahindra & Mahindra, BPCL, and Tata Steel emerged as the top gainers.

Similarly, among the 30 stocks on the Sensex, nine stocks registered declines, with Nestle India, Axis Bank, HCLTech, ITC, and Titan leading the losses.

On the other hand, Bharti Airtel, Power Grid Corp., Mahindra & Mahindra, Tata Steel, and Larsen & Toubro were the top performers, contributing to the index’s overall gains.

Foreign institutional investors (FIIs) were net sellers of shares worth ₹4,468.09 Crore, while domestic institutional investors (DIIs) bought shares worth ₹2,040.38 Crore on April 16, as per provisional data from the NSE.

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