Closing Bell: Nifty ends near 15,700, Sensex surges by 700 points; banking, realty lead the rally

Indian domestic equity market ended last day of the week and first day of Financial Year 2022-23 on a strong note. Benchmarks made a strong recovery in closing hours as Nifty50 and S&P BSE Sensex ended with over 1% gains. Headlines indices also gained around 3% for the week ended April 1, 2022.  

Broader Nifty50 closed near 15,700, while the Sensex settled with over 700 points gains near 59,300.  

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The reversal was largely led by banking & financial services stocks and well supported by oil & gas stocks.  

Shrikant Chouhan, Head of Equity Research (Retail), Kotak Securities Ltd, said Indian equity markets gave positive returns this week. Globally too, equity markets remained broadly resilient led by optimism on progress in Russia-Ukraine negotiations, he said.  

Meanwhile, Nifty midcap and smallcap indices closed Friday with gains of around 1.5% each. India VIX cooled down 18-levels.  

Sectorally, 12-share Nifty Bank added more than 700 points to close near 37,100, while Nifty PSU Bank gained nearly 4%.  Oil & gas, Realty, financial services were other sectors which witnessed strong buying interest. Nifty Pharma and Healthcare indices closed flat in a positive market.  

NTPC, BPCL, Power Grid, IndusInd Bank, State Bank of India, HDFC Bank, HDFC Ltd and Mahindra & Mahindra were lead gainers on the benchmark indices.  

Hero MotoCorp, Tech Mahindra, SBI Life, Titan, Divis Laboratories, Apollo Hospitals, Sun Pharma, Dr Reddy's, Infosys and Bharti Airtel were among top laggards