MUMBAI: The domestic stock market continued its upward trend for the fourth consecutive day on Thursday due to gains in energy, information technology (IT) and banking stocks amid positive signals from global markets and the Sensex climbed 997 points.
Traders said that the purchase of the April series futures and options contracts due to expire also reinforced the market sentiment. The 30-share sensitive index of the BSE finally gained 997.46 points, or 3.05 per cent, to end at 33,717.62, after rising 1,167 points during trading. During trading it had reached the day’s high of 33,887.25 points.
Similarly, the NSE Nifty climbed 306.55 points or 3.21 percent to close at 9,859.90 points. Among the Sensex companies, ONGC gained the most by over 13 percent. Apart from this, shares of HCL Tech, Hero MotoCorp, NTPC, TCS, M&M, Infosys and Maruti Suzuki also rose.
Shares of Reliance Industries and Tech Mahindra rose nearly 3 per cent before the quarterly results were announced. However, Hindustan Unilever (HUL) shares fell. Sun Pharma, IndusInd Bank and Asian Paints also closed with losses. Vice President of Kotak Securities (PCG Research) Sanjeev Zarbade said that many countries have started talking about removing the lockdown. This has led to a boom in most major global markets this week.
