Wednesday, 24 July 2024
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Stock Market

Nifty at 22,400, and Nifty Bank gains around 300 points

  • The NSE Nifty 50 beginning at 22,553.85, up 119.20 points, or 0.53%.
  • The BSE Sensex starting at 73,716.37, up 0.55%, or 408.60 points.
  • DMart shares increased by 5.61% on the BSE to hit a new high of Rs 4,710.15 per share.

The main equity indices had a good start, with the BSE Sensex starting at 73,716.37, up 0.55%, or 408.60 points, and the NSE Nifty 50 beginning at 22,553.85, up 119.20 points, or 0.53%.

At opening, the Bank Nifty index was up 368 points, or 0.77%, at 47,992.25. On April 4, ONGC, Shriram Finance, Adani Ports, BPCL, and SBI were the main losers in the Nifty 50, while the top gainers were HDFC Bank, Eicher Motors, Asian Paints, Tech Mahindra, and TCS.

Sensex and Nifty

After the company reported strong business growth for the fourth quarter of FY24, Avenue Supermarts’ share price shot up by more than 5% to reach a 52-week high.

DMart shares increased by 5.61% on the BSE to hit a new high of Rs 4,710.15 per share. The owner of DMart outlets, Avenue Supermarts, reported standalone sales of Rs 12,393.46 crore for the quarter that ended in March 2024, up nearly 20% from Rs 10,337.12 crore in the same period the year before.

The top Nifty Midcap Gainers on April 4 were AU Small Finance Bank, IPCA Laboratories, Bandhan Bank, Coforge, and UPL; the top Nifty Midcap Losers were Oil India, Mazagon Dock, Petronet, Vodafone Idea, and Hindustan Petroleum. The shares of GE Power India saw an incredible 11.8% increase, culminating in a 34-month high of Rs 371 per share.

As the precious metal, gold reached its all-time high on April 4, Manappuram Finance gained 4.3% to reach a 52-week high of Rs 202.45. According to Jefferies India, there would be a doubling of domestic defense investment by FY30, which is encouraging for equities such as Bharat Electronics (BEL), Data Patterns, and Hindustan Aeronautics (HAL).

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