New Delhi: The Indian stock market surged for a third time in a row on Thursday and both the BSE Sensex and NSE Nifty50 indices ended the day on a positive note thanks to strong performance by the banking sector and other sectors of the economy as well throughout the day.

Stock Market Closing

The BSE Sensex went up by 318.74 points or 0.42 percent bringing the overall September 22 close to 7704282. The Sensex was able to maintain equilibrium between 7731950 and 7689551. The NSE Nifty 50 on the other hand rose up by 98.60 points or 0.42 and ended at 2331180. The index witnessed highs of 2339165 and lows of 2327205.

Nifty Today: Top Gainers And Losers

Among the 50 stocks enlisted under the Nifty50 index 33 stocks exhibited growth with the likes of HDFC Life, Bharat Electronics, Shriram Finance, SBI Life and Adani Ports reaching up to 797 percent. However, there were 17 losing stocks such as Trent, Dr Reddy’s Labs, Tata Consumer, HCL Tech and Infosys.

Blisters to expectations, Though devastated the Nifty Midcap100 and Nifty Smallcap100 collapsed the benchmarks epicenter. The gauge applied to volatility remains known as the fear index busted up by 1.35% rising to 15.17.

The Bank Nifty Index also increased by 1.08 percent while the Nifty Private Bank Index climbed 0.91 percent. On strong advances from Punjab & Sind Bank and Indian Bank, the Nifty PSU Bank index jumped 2.55 percent which also looks optimistic.

The somehow positive note saw a gain of up to 2.06 percent in Nifty Financial Services, Metal, Oil & Gas sectors. The IT, FMCG, Pharma, and Consumer Durables on the other hand amplified CEB levels while Condenser and AHR part with losses extended to 0.56 percent.

The international and domestic factors that have an influence on the markets are changing and this causes a 12 percent sharp drop from the highs that were witnessed in September.

Global Factors Fuel Optimism On The Markets

Yesterday, the US inflation figures left little to be desired and were one of the driving forces behind the rally. Investors were encouraged when US core inflation showed growth at a lower than anticipated level. US stock markets had opened fine on Wednesday night which created a positive influence on the Asian markets inclusive of India.

Equities were also supported when US government bonds eased as well as the US dollar. In the geopolitical sense, a reduction in the investor’s worry was brought about by the news that Israel and Hamas had agreed for a truce in Gaza.

Domestic Influences And Major Earnings

The Indian markets in the meantime were expecting the earnings for the quarter of Reliance Industries, Axis Bank, Infosys among others that were to be released and these are likely to change the market direction.