Investors wealthier by Rs 2.5 lakh crore as Sensex, Nifty50 extend gains to third day in a row
Indian equity benchmarks extended gains to a third straight session on Thursday though giving up much of their intraday gains on Wednesday, as encouraging macroeconomic data from the US allayed some of the concerns about a prolonged period of steel hikes in benchmark interest rates and sent positive signals to the markets the worldover. Any indication of strength in the worlds largest economy is a sigh of relief, as the Fed and other major central banks scramble to tame red-hot inflation without disrupting economic growth amid fears of at least a mild recession.
Indian equity benchmarks managed to close higher for the third session in a row on Thursday tracking positive global cues, boosted by IT and metal shares though losses in financial and metal stocks played spoilsport. The Nifty50 managed to defend the psychologically important level of 18,000 in intraday trade, supported by gains in heavyweights such as Tech Mahindra, ONGC, Tata Consultancy Services (TCS), Apollo Hospitals and Infosys.
Any indication of strength in the world's largest economy is a sigh of relief, as the Fed and other major central banks scramble to tame red-hot inflation without disrupting economic growth amid fears of at least a mild recession.
Both headline indices were left with gains of 0.1 per cent at the end of the day, having jumped as much as 0.7 per cent during the session. The Sensex finished 44.4 points stronger for the day at 61,319.5 — after soaring more than 400 points at the strongest level in intraday trade — and the Nifty50 settled at 18,035.9, up 20 points from its previous close. The 50-scrip index broadly moved within the 18,000-18,150 range during the session.
Investors grew wealthier by Rs 2.5 lakh crore in three back-to-back days as the market capitalisation of BSE-listed companies increased to Rs 268.3 lakh crore, according to provisional exchange data.
ONGC rose the most among the Nifty50 constituents, rising 5.7 per cent for the day after the government gave some relief on windfall taxes. Tech Mahindra, Apollo Hospitals, Divi's, Nestle, Adani Ports and Tata Steel were some of the other top blue-chip gainers.
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Top Nifty50 gainers
| Stock | Change (%) | CMP |
| ONGC | 5.7 | 155.9 |
| Tech Mahindra | 5.2 | 1,127.6 |
| Apollo Hospitals | 3.4 | 4,640.2 |
| Divi's | 1.9 | 2,876.6 |
| Nestle | 1.7 | 19,592 |
| Adani Ports | 1.6 | 578 |
| Tata Steel | 1.5 | 112 |
| Coal India | 1.1 | 215.3 |
| Adani Enterprises | 1 | 1,796.9 |
| NTPC | 0.9 | 167.3 |
On the flipside, Bharat Petroleum, Bajaj Finance, Mahindra & Mahindra, Eicher Motors, HDFC Life, Hindustan Unilever and Tata Motors were the top laggards.
Top Nifty50 losers
| Stock | Change (%) | CMP |
| Hero MotoCorp | -0.5 | 2,558 |
| Maruti Suzuki | -0.6 | 8,796.1 |
| Axis Bank | -0.7 | 862.6 |
| Tata Motors | -0.7 | 440.9 |
| HUL | -0.8 | 2,527.8 |
| HDFC Life | -0.9 | 514.5 |
| Eicher | -0.9 | 3,281.5 |
| M&M | -1 | 1,366.1 |
| Bajaj Finance | -1.1 | 6,420 |
| BPCL | -1.7 | 325.7 |
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