The Indian stock market witnessed a strong comeback today, erasing yesterday’s losses and reaching new all-time highs. Both the benchmark indices, Sensex and Nifty, surged after a brief pause, driven by gains in private banking stocks.
Sensex and Nifty Hit Fresh Lifetime Highs
- The BSE Sensex, after touching a low of 73,321, climbed over 400 points to comfortably settle above the 74,000 mark.
- The NSE Nifty50 also rose sharply, closing above the 22,450 level for the first time ever.
Private Banking Stocks Lead the Charge
- The rally was primarily led by private banking stocks, with Axis Bank, Kotak Bank, and ICICI Bank leading the gains.
- Other sectors like pharmaceuticals and telecommunications also contributed to the positive momentum, with Sun Pharma and Bharti Airtel witnessing significant growth.
Mid-Cap and Small-Cap Stocks Under Pressure
- Broader market indices, the BSE MidCap and SmallCap, continued to face selling pressure, declining over 0.60% and 1.87%, respectively.
Top Gainers and Losers in Nifty 50
In the Nifty 50, Bajaj Auto, Kotak Bank, Axis Bank, Bharti Airtel and Sun Pharma emerged as the top gainers on March 06. On the other hand, Adani Enterprises, Ultratech Cements, NTPC, ONGC, and BPCL faced significant losses, reflecting the diverse performance within the index.
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