Stock markets rally for 5th day; Sensex jumps 855 pts on buying in banking, IT shares
Mumbai, Apr 21 (PTI): Rallying for the fifth day in a row, benchmark Sensex jumped 855 points to close above the 79,000 mark on heavy buying in banking and IT shares following strong quarterly results and foreign fund inflows.
The 30-share BSE Sensex jumped 855.30 points or 1.09 per cent to settle at 79,408.50 with 23 of its components ending in green. During the day, it surged 1,081.85 points or 1.37 per cent to 79,635.05.
The NSE Nifty climbed 273.90 points or 1.15 per cent to close at 24,125.55 as 39 of its constituents advanced and 11 declined.
In the five-day rally, Sensex jumped by 5,561.35 points or over 7 per cent and Nifty surged by 1,726.40 points, recouping all the losses triggered by imposition of reciprocal tariffs by US President Donald Trump tariffs on April 2.
Among Sensex scrips, Tech Mahindra, IndusInd Bank, Power Grid, Bajaj Finserv, Mahindra & Mahindra, HCL Tech, State Bank of India, Kotak Mahindra Bank, Infosys, HDFC Bank and Reliance Industries were the biggest gainers.
Adani Ports, Hindustan Unilever, ITC, Asian Paints and Nestle were among the laggards.
HDFC Bank shares climbed over 1 per cent after the leading private lender reported a 7 per cent growth in its consolidated net profit for the March quarter to Rs 18,835 crore.
Infosys shares rallied over 2 per cent after the company's March quarter net profit rose by 3.3 per cent sequentially.
Reliance Industries shares surged nearly 2 per cent which also boosted the rally in benchmark indices.
The BSE midcap gauge surged 2.20 per cent and the smallcap index jumped 1.67 per cent.
On the market rally, Vinod Nair, Head of Research, Geojit Investments Ltd, said, "The bulls took over, which led the Nifty to cross 24k in the third attempt over the last 3 months and fuelled Bank Nifty to touch a new high. The possibility of a bilateral trade agreement with the US is adding optimism in the market."
The better results from bank stocks owing to improved asset quality and credit growth attracted investors, analysts said.
"A contrarian bet on IT due to its attractive valuation with an expectation of improvement in spending in the latter half of FY26 is keeping the counter busy. While the dollar index slumps to a three-year low, another layer of uncertainty may attract more FII inflows into the domestic market in the near term," Nair added.
All BSE sectoral indices ended higher, with oil & gas soaring 2.61 per cent, power (2.49 per cent), BSE Focused IT (2.42 per cent), IT (2.31 per cent), realty (2.27 per cent), auto (2.12 per cent) and metal (2 per cent).
As many as 2,918 stocks advanced while 1,168 declined and 161 remained unchanged on the BSE.
In the past five days, the BSE benchmark gauge zoomed 5,561.35 points or 7.53 per cent, and the Nifty surged 1,726.4 points or 7.70 per cent.
Foreign Institutional Investors (FIIs) bought equities worth Rs 4,667.94 crore on Thursday, according to exchange data.
In Asian markets, South Korea's Kospi index and Shanghai SSE Composite settled in the positive territory while Tokyo's Nikkei 225 ended lower. Markets were closed in Hong Kong.
US markets ended mostly lower on Thursday. Equity markets in the US were closed for 'Good Friday'.
Global oil benchmark Brent crude declined 2.71 per cent to USD 66.25 a barrel.
The BSE benchmark Sensex jumped 1,508.91 points or 1.96 per cent to settle at 78,553.20 on Thursday. The Nifty surged 414.45 points or 1.77 per cent to 23,851.65.
Stock markets were closed on Friday for 'Good Friday'.
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Teen found murdered in Delhi's Seelampur park; two suspects detained
New Delhi (PTI): Two people, including a minor, have been apprehended for the murder of a 16-year-old boy at a public park in northeast Delhi's Seelampur, an official said on Saturday.
The incident came to light around 11:30 pm on Thursday, when police, during routine patrolling, entered the Central Park in Seelampur and discovered the blood-soaked body of the teenager, identified as Rehan alias Seelampuriya, lying between a bench and a walkway, he said.
"The police immediately alerted the local police station, following which senior officers and a police team reached the spot. The victim was rushed to the JPC Hospital, where doctors declared him dead," a senior police officer said.
A case has been registered under relevant sections of the BNS at the Seelampur police station.
Crime and Forensic Science Laboratory (FSL) teams inspected the scene and collected evidence. Multiple teams were formed to identify and apprehend the culprits, police said.
"Two suspects, including a minor, have been detained. They are being questioned in connection with the incident," the officer added.
