1 min read 29 Apr 2024, 03:47 PM IST Trade Now
Stock market today: Sensex closed 941 points, or 1.28 per cent, higher at 74,671.28 while the Nifty 50 closed the day at 22,643.40, up 223 points, or 1 per cent.
PremiumStock market today: Indian stock market benchmarks, the Sensex and the Nifty 50 closed with significant gains on Monday, April 29, led by strong buying in banking and financial stocks after upbeat March quarter results of their sectoral heavyweights.
Positive global cues also underpinned positive sentiment. Major European markets and the US stock futures rose as investors shifted their focus to the Federal Reserve’s policy decision on Wednesday and US jobs data on Friday.
The market seems to have factored in the possibility of no rate cut in the near future. However, the drop in the US GDP data for the first quarter has raised the chatter that the Fed may go for at least two rate cuts this year.
Also Read: US Fed meet ahead: What do dimming rate cut hopes mean for Indian stock market?
On Monday, banking stocks hogged the limelight after their sectoral index, Nifty Bank, jumped to a fresh record high level of 49,473.60. Nifty PSU Bank index also hit its fresh record high of 7,589.80 during the session.
Better-than-expected March quarter (Q4) results of some of the top banking names fuelled the rally in the banking pack.
Sensex closed 941 points, or 1.28 per cent, higher at 74,671.28 while the Nifty 50 closed the day at 22,643.40, up 223 points, or 1 per cent.
(More to come)
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Published: 29 Apr 2024, 03:31 PM IST
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