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Continuing with the bull run, the Indian market surged for the fifth consecutive day to settle in the green on Thursday. In the five-day rally, the benchmarks Nifty50 and Sensex surged around four per cent each.
Ahead of the European Central Bank’s (ECB) meeting, the broader Nifty50 and Sensex gained around half per cent as the former closed above 16,600 and the latter rose by around 300 points to end near 55,700.
Outperforming the benchmarks, Nifty Midcap rose by around 1.4% and the Small cap gained almost 0.8%.
PSU Bank and Oil & Gas indices continued to lead the Nifty sectoral indices with 1.7% and 1.1% gains respectively. However, Healthcare and Pharma witnessed some profit booking.
Buoyed by strong Q1FY 23 numbers, IndusInd Bank led the benchmarks, gaining by almost 8%. Bajaj twins, Asian Paints, Axis Bank, Tata Consumer, UPL, L&T, Power Grid and Tech Mahindra were other other top gainers on the Nifty50 and Sensex.
Those dragged the market amid positive sentiment were Kotak Bank, Dr Reddy’s, Reliance, SBI Life and Cipla among others.
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