Stocks Closed Higher, Media Stocks Gain

The markets recovered from their previous day’s losses to close sharply higher after US Federal Reserve hinted at a rate cut that lifted up Asian stocks which also impacted on Indian equity.

The BSE Sensex scaled up 266-pts at 38,823-level and the Nifty50 went up 84-pts to 11,582.90 on Thursdays closing.

ZEEL, JSW Steel, HeroMotoCorp, IndusInd Bank and Tata Motors were top gainers among Nifty50 stocks, rising 3.29 – 7.59% while TechMahindra, ICICI bank, IOC, UPL and Axis bank led the losses.

Among Sectoral gauge, all the indices closed in the green with Nifty Media being the topper index rising 3.87% at 2,057.15, led by gains in Dish TV, Den Net wor, Zeel and Hathway cable up by rage between  5.305 to 16.44%

Also, Nifty Auto, Metal, Pharma, PSU Bank and Nifty realty surged with gains between 1.29% and 1.86% in range.