FINAL TRADE: Sensex rises 440.33 pts; Nifty settles at 21,853.8; BPCL soars over 9%

Stock market today: Domestic equity indices Sensex and Nifty settled higher after hitting an all-time high during the day amid heavy buying in information technology (IT), metals, banks, and oil & gas counters. At close, both indices settled over 0.60 per cent higher. The S&P BSE Sensex rose 440.33 points to 72,085.63, and the NSE Nifty soared 156.35 points to 21,853.8.

Among the Nifty50 stocks, 38 advanced, with BPCL, NTPC, Power Grid, Adani Ports, and ONGC being the top gainers, rising between 3.28 per cent and 9.55 per cent. Conversely, Eicher Motors, Axis Bank, HDFC Bank, HDFC Life, and HUL were the top laggards, slipping between 0.87 per cent and 2.5 per cent. 

"A conservative interim budget had no slowdown effect on the market, which continued to grow on the pre-election rally. The drastic fall in the fiscal deficit target is leading to a reduction in bond yields, which will lead to a lowering of corporate borrowing costs, increasing incentives to step up investment. Furthermore, the FOMC tempers expectations that the central bank will soon slash interest rates and that inflation in the US is continuing to cool," said Vinod Nair, Head of Research at Geojit Financial Services.

Meanwhile, Nifty Mid Cap 100 and Small Cap 100 closed in positive territory. Nifty Bank was down 0.47 per cent at 45,970.95.

BUZZING STOCKS

BPCL shares soared over 9 per cent. 

Abbott India shares rose over 8 per cent a day after the company posted better-than-estimated Q3 numbers.

NBCC shares closed over 19 per cent higher.

Conversely, Paytm shares hit a 20 per cent lower circuit after the Reserve Bank of India (RBI) barred Paytm Payments Bank Ltd from accepting deposits or top-ups in any customer account, prepaid instruments, wallets, and FASTags, among others, after February 29, 2024.

GLOBAL MARKETS

Global shares mostly rose Friday, helped by optimism about technology shares following a Wall Street rally led by big tech stocks. France's CAC 40 edged up 0.4 per cent in early trading to 7,616.10, while Germany's DAX rose 0.6 per cent to 16,966.54. Japan's benchmark Nikkei 225 added 0.4 per cent to finish at 36,158.02.

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