Markets end FY24 on bullish note, Sensex jumps 655 pts

Mumbai, March 28

Benchmark equity indices Sensex and Nifty rallied for the second straight session on Thursday to end the 2023-24 fiscal on a bullish note, powered by across-the-board buying amid a bullish trend in global equities.

Power, auto and metal stocks witnessed robust demand, even as a depreciating rupee weighed on sentiment, traders said. Extending its previous day’s rally, the 30-share index jumped 655.04 points or 0.90 per cent to settle at 73,651.35. During the day, it zoomed 1,194 points or 1.63 per cent to 74,190.31.

The NSE Nifty climbed 203.25 points or 0.92 per cent to end at 22,326.90. On a weekly basis, the BSE benchmark climbed 819.41 points or 1.12 per cent, and the NSE Nifty advanced 230.15 points or 1.04 per cent.

In 2023-24, Sensex jumped 14,659.83 points or 24.85 per cent, while the Nifty soared 4,967.15 points or 28.61 per cent. “Indian equities closed the day and fiscal year on an optimistic note, with volatility by the end of the session, as buying by retails, DIIs, and FIIs surged. Mid-and small-cap stocks have emerged as frontrunners, rebounding from the initial sell-off earlier in the month.

“An upgrade in the domestic economy forecast hints at an encouraging outlook for the stock market in FY25,” Vinod Nair, Head of Research, Geojit Financial Services, said. — PTI

Investors richer by Rs 128.77L cr this fiscal

• Riding on a bull run, equity investors became richer by Rs 128.77 lakh crore in the 2023-24 fiscal, driven by robust fundamentals of the Indian economy, increased investment inflows and promising corporate earnings
• BSE Sensex climbed 14,659.83 points in 2023-24. The benchmark hit its all-time high of 74,245.17 on March 7

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