Benchmark stock market indices ended the trading session on a strong note, tracking gains in metal, realty, banking and information technology (IT) stocks.
The S&P BSE Sensex rose 539.50 points to 72,641.19 at the closing bell, while the Nifty50 settled 172.85 points higher at 22,011.95.
Broader market indices also rose sharply during the session as volatility reduced. The Nifty Smallcap 100 index rose 2.5 per cent, while the Nifty Midcap 100 gained 2.4 per cent, marking a huge turnaround from recent sessions.
Among sectoral indices, Nifty Realty rose 3 per cent and was the top gainer.
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Nifty Metal rose over 2.4 per cent, while Nifty Bank, Nifty Financial Services, Nifty IT, Nifty Auto and Nifty Oil & Gas witnessed decent gains.
The top five gainers on the NSE Nifty50 were NTPC, BPCL, Powergrid, Tata Steel and Coal India. On the other hand, the top losers were Bharti Airtel, HDFC Life, Maruti, ICICI Bank and ONGC.]
One of the reasons behind the positive momentum on Dalal Street was the US Federal Reserve’s commentary on interest rates.
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While the US Fed kept interest rates unchanged, its indication that interest rates would be cut thrice provided a boost to stock markets around the world.
