Sensex up 2,975 pts, Nifty Crosses 24,900-Mark; Market Cap of BSE-Listed Firms Soars ₹16 Lakh Crore

The Indian equities market cheered with significant gains today as India and Pakistan reached a ceasefire agreement on Saturday. Sensex soared 2,975 points or 3.74 to settle at 82,429, while Nifty was up by 917 points or 3.82% to close at 24,925. The market cap of BSE-listed companies surged by ₹16 lakh crore.

Here’s a look at today’s performance of the Indian equities market

Wealth increases by ₹16 lakh crore

In today’s trading session, the market cap of BSE-listed companies surged by ₹16.06 lakh crore to ₹432.47 lakh crore.

Stocks hit 52-week high

Close to 110 stocks clocked their 52-week high today. BSE 500 stocks, including Anupam Rasayan India, APL Apollo Tubes, Aster DM, Bharti Hexacom, CEAT, ICICI Bank, Navin Fluorine International, Redington and Solar Industries India were trading at one-year high.

How many stocks rallied?

Of the 4,254 stocks, 3,542 stocks gained, while 579 stocks declined. The value of 133 stocks remained unchanged.

Top gainers

Among the constituents of Sensex, HDFC Bank, ICICI Bank, Infosys, Reliance Industries, TCS, L&T, ITC, M&M and HCLTechnologies emerged among the top gainers. On the Nifty front, all sub indices closed in green. Nifty IT, Nifty Financial Services, Nifty Metal and Nifty Realty outperformed the NSE index by rising 6.70%, 4.21%, 5.86% and 5.93%, respectively.

Outlook on Nifty

“Nifty surpassed the crucial resistances of 24,589 and 24,857 and closed above them. Next resistance for the index is seen at 25,207, which happens to be a 76.4 per cent retracement of the entire fall from 26,277 to 21,743. Support has now shifted upwards to 24,590,” said Devarsh Vakil, Head – Prime Research at HDFC Securities.