Stock Market Highlights: Equity Market ends with decent gains.Sensex ends around 401 points and Nifty closed at 17743.40 up 119 points.

Stock Market Highlights: Equity Market ends with decent gains.Sensex ends around 401 points and Nifty closed at 17743.40 up 119 points.

Ira Singh
24th April’23

The Indian equity market ended with decent gains on Monday, following some strong earnings by private lenders during the day including ICICI Bank, HDFC twins, Axis Bank and SBI.

At close,the Sensex was up 401.04 points or 0.67 percent higher at 60,056.10, and the Nifty was up 119.35 points or 0.68 percent at 17743.40, according to estimates.

The market has been in the phase of consolidation for a long time amid concerns over rate hikes and their impact on global economic growth.

Sectors and stocks

HDFC Life Insurance was the best-performing stock, up 6.4 percent, among Nifty,followed by Tata Consumer, Wipro, Axis Bank and ICICI Bank, which gained up to 5 percent. Dr Reddy’s Labs, IndusInd Bank and Cipla were among the biggest Nifty losers, according to reliable sources.

On sectoral front,information technology (IT), and financials were major gainers while pharma faced selling pressure.

The BSE midcap and smallcap indices underperformed BSE Sensex,but managed to settle in green.according to estimates.

On 24th April’23, the Indian rupee gains 15 paise to close at 81.91 against the US dollar.

Experts Take:

Market experts have recommended six buy or sell stocks for Monday— Britannia, Pidilite, Wipro, Reliance, TCS and HDFC, according to sources.