Indian benchmark indices closed higher on Thursday after twice sessions of losses led by gains in financial and banking stocks. The Sensex closed 223-pts higher at 30,602.61 while the Nifty concluded 67 points greater at 8,992.80. ICICI Bank, HDFC, Reliance Industries, HDFC Bank, and Larsen&Toubro contributed the most to the gains.
The market reaction was also encouraging after the govt said that it will allow the opening up of some industries in rural areas post April-20 to reduce the trouble caused to millions of people on account a extended lockdown to halt the spread of COVID19.
NTPC, Vedanta, Hindalco Industries, ICICI Bank, and Titan Company rose the most on the Nifty index, wheras HCL Technologies, TechMahindra, Kotak Mahindra Bank, Airtel and Infratel led the losses. Avail the best intraday future tips, Free stock tips from the expert.
Banking, auto, pharma and metals indices were positive for the day, IT and consumer goods (FMCG) indices closed in the red. IT stocks slipped led by weak Wipro fourth-quarter earnings. HCL Tech, Tech Mahindra, Infosys, and TCS dropped between 1 and 4 percent for the day.
Shares of Apollo Tyres have rallied 6.86 percent to close at 94.20 per share ahead of the board meet reportedly today for considering raising funds.