On the final day of trading of the Financial Year 2024, the stock market reported solid gains and extended the winning run for the second consecutive session.

This was led by buying across the sectors.

Sensex was up 655.04 points or 0.90% at 73,651.35, and the Nifty was up 203.20 points or 0.92% at 22,326.90.

The rally was led by across-the-board gains as all the sectoral indices traded in the green.

All the sectoral indices ended in the green with auto, healthcare, metal, power, and capital goods up 1% each. The oil & gas, Information Technology, bank, realty, and FMCG gained 0.5% each.

Bank Nifty has been consolidating within the range of 46,500–47,000 over the past four trading sessions. A breakout from this range could initiate trending moves in the corresponding direction.

The BSE midcap index added 0.6% and the smallcap index was up 0.3%.

Rally was seen in Bajaj Finance, Bajaj Finserv, Grasim Industries, Mahindra & Mahindra and ICICI Bank, among others. Among Nifty 50 constituents, 48 stocks advanced, while only 2 stocks were trading in the red.

On BSE, over 100 stocks touched their 52-week high, including ABB India, Adani Ports, Arvind SmartSpaces, Bharat Bijlee, Century Textiles and Industries, Chalet Hotels, Cummins India, Grasim Industries, IFB Industries, Indus Towers, Info Edge, Kalyan Jewellers, L&T, Oracle Financial Services, Sanghvi Movers, Siemens, among others.

The rupee depreciated 6 paise to settle at 83.39 against the US dollar due to a strengthening greenback against major rivals overseas and rising crude oil prices in the international markets.

The shares of Bajaj Finance surged 4.5% following reports that subsidiary Bajaj Housing Finance was planning to go public, with a valuation $9-10 billion.

Bajaj Finance emerged top gainer on the Nifty 50, contributing 17.52 points in the index’s 236.75-point swing.

Notably, the move is aimed at meeting the RBI’s mandatory requirement for upper-layer NBFCs to list within three years of being notified.

Foreign Institutional Investors (FIIs) continued to show their strong buying interest in the Indian stock market, indicating positive sentiment.

FIIs net bought shares worth Rs 2,170.32 crore, while Domestic Institutional Investors (DIIs) purchased stocks worth Rs 1,197.61 crore on March 27, provisional data from the NSE showed.

In the global market, upward momentum supported the rally in domestic equity markets.

The Dow Jones Industrial Average rallied 477.75 points, or 1.22%, to 39,760.08, while the S&P 500 jumped 44.91 points, or 0.86%, to 5,248.49. The Nasdaq Composite ended 83.82 points, or 0.51%, higher at 16,399.52.

For the Indian stocks, FY24 was a stellar year. Benchmark Nifty gave positive returns in 9 of the 12 months. Mid and small-cap stocks also surpassed expectations, delivering impressive returns of 62% and 72%, respectively.

The stock market will remain shut on March 29 on the account of Good Friday.