The BSE Sensex opened 76 points lower at 76,968. It dipped further to the day’s low of 76,666, before rallying strongly. The index surged to a high of 78,617, gaining 1,951 points from its lowest point. It eventually ended the day with a gain of 1,509 points, or 1.96%, closing at 78,553.
Similarly, the NSE Nifty 50 showed a remarkable recovery. After touching an intra-day low of 23,299, it bounced back sharply to a high of 23,872, closing at 23,852, up 414 points, or 1.8%.
Interestingly, the Bombay Stock Exchange (BSE) is celebrating its 150th anniversary today, marking a historic milestone in India’s financial market. The Sensex, the benchmark index of the BSE, holds significant importance as it tracks the performance of 30 of India’s most prominent companies.
Impact on the stock market
The Nifty Bank sector led the charge with a gain of over 2%, while Auto, Pharma, Oil & Gas, and PSU Bank sectors also saw significant increases, each rising by more than 1%. Nifty FMCG, Metal, and Realty posted gains of 0.7%.
However, Nifty IT was the only sector to decline, dropping by 0.35% after a cautious outlook from Wipro.
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| Sector/Index | Performance |
| IT & BPM sector | 0.23% |
| Healthcare sector | 1.16% |
| Oil & Gas sector | 1.33% |
| Real estate sector | 0.51% |
| PSU Bank in India | 1.64% |
Top gainers today
| Company | Price | Change % |
| Eternal Share Price | 231.60 | 4.29 |
| ICICI Bank Share Price | 1,406.70 | 3.71 |
| Bharti Airtel Share Price | 1,889.10 | 3.65 |
| Sun Pharma Share Price | 1,751.50 | 3.45 |
| Bajaj Finserv Share Price | 2,035.30 | 3.36 |
Top losers today
| Company | Price | Change % |
| Wipro Share Price | 236.90 | -4.34 |
| Hero Motocorp Share Price | 3,771.80 | -0.27 |
| JSW Steel Share Price | 1,007.20 | -0.22 |
| Tech Mahindra Share Price | 1,306.80 | -0.15 |
| Coal India Share Price | 398.85 | -0.10 |
Market aftermath: Impact on stocks
KFin Technologies surges after acquisition announcement
Shares of KFin Technologies surged 8% today, marking a third consecutive day of gains. The market reacted positively to the company’s announcement that it had acquired a 51% stake in Ascent Fund Services for $34.7 million.Â
The move, which will be completed in the next 3-4 months, marks KFin’s first significant international acquisition in the global fund administration market. This acquisition positions KFin Tech to expand its reach globally, complementing its India-based business in the RTA and fintech sectors.
The deal is expected to be earnings-dilutive in the short term but value-accretive over time, according to analysts like Jefferies and Nuvama. The stock is currently 30% below its all-time high, despite showing 500 %+ returns since its post-IPO lows.
Grasim Industries gains amid strong volumes
Grasim Industries saw its stock climb 2.01% today, reaching ₹2,758.20, supported by high trading volumes and positive sentiment. The stock’s strong performance is attributed to investor confidence in the company’s solid revenue growth.Â
Grasim’s inclusion in key indices like Nifty 500, Nifty50, and Nifty INFRA further highlights its influence on the market. Analysts have maintained a Very Bullish sentiment on the stock, based on its consistent financial performance .
Bajaj Finserv surges 3.32%
Bajaj Finserv was another major gainer today, with its stock price rising 3.32% to ₹2,036.80, driven by an increase in trading volumes. The surge in trading activity could signal institutional buying or a shift in investor sentiment.Â
With its strong financials and presence in multiple key indices like Nifty 50 and Nifty Financial Services, Bajaj Finserv continues to attract investors. Its consistent growth trajectory in the past few years has kept analysts bullish about the stock.
Crude oil prices rise amid supply concerns
While the Indian stock market enjoyed a solid performance, crude oil futures were also in focus today. Brent crude oil saw a 0.97% rise to $66.49, while WTI crude oil surged by 1.25% to $63.24. The price hike comes amid supply concerns related to the US administration’s new sanctions on Iran’s oil exports. These sanctions are expected to tighten global oil supply, especially after the US Treasury Department imposed sanctions on a refinery in China that imports Iranian oil.
Simultaneously, the Organisation of the Petroleum Exporting Countries (OPEC+) and its allies have decided to reduce production output to balance the global oil market. This combination of factors has led to higher oil prices, which could have far-reaching implications for global markets.
Conclusion
Today’s stock market performance was marked by strong gains in key indices, led by stellar performances from banking stocks and Reliance Industries. The Sensex and Nifty 50 saw notable rallies, fueled by positive sentiment around major stocks like ICICI Bank, Bharti Airtel, and Reliance.
In the post-market aftermath, stocks like KFin Technologies, Grasim Industries, and Bajaj Finserv continued their upward momentum, supported by strong trading volumes and investor confidence. Meanwhile, crude oil prices continued to rise due to geopolitical concerns, which may affect global markets and fuel costs.
As the Indian stock market continues its winning streak, traders and investors will be watching for any signs of volatility or external shocks, especially with the ongoing US-China trade tensions and supply disruptions in the energy market. With Good Friday coming up tomorrow, traders will look forward to seeing whether today’s momentum can carry over into the next trading week.
For more stock market insights, check out the StockGro blog.
