The stock market on Thursday extended its winning streak to a fifth consecutive session, making a smart recovery from the day’s low. However, gains were capped by profit booking in the last hour.

The market opened lower on weak global cues and traded flat in the first half. It saw a sharp surge in the second half amid buying across the sectors, led by PSU banks.

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Sensex closed 487 points, or 0.66%, higher at 74,339.44 while the Nifty closed the day with a gain of 168 points, or 0.75%, at 22,570.35 on the monthly F&O expiry day.

In a sector-wise analysis, Nifty PSU Bank surged 3.77% while the Nifty Pharma, Healthcare, Metal and Auto indices rose by over a per cent each. Nifty Bank closed 0.63% higher.

The two sectoral indices that ended in red were Nifty Consumer Durables, down 0.43%, and Realty, 0.25%.

ICICI Bank, SBI, JSW Steel, Ambuja Cements, Bharat Electronics, Eicher Motors, Hindustan Aeronautics, Hindalco and Trent, hit their fresh 52-week highs in intraday trade on BSE.

The biggest Nifty gainers were Axis Bank, SBI, Dr Reddy’s Labs, JSW Steel and Nestle India, while losers included Kotak Mahindra Bank, LTIMindtree, HUL, SBI Life Insurance and Titan Company.

Shares of SBI also witnessed buying interest among Dalal Street bulls. SBI share price today opened downside at Rs 770.65 apiece on NSE, but the Indian banking major bounced back strongly and touched an intraday high of Rs 806 per share level.

Mid and smallcap indices also ended with healthy gains, mirroring the benchmarks. The BSE Midcap index rose 0.71% while the BSE Smallcap index hit its fresh all-time high of 47,165.21 during the session before ending 0.54% higher at 47,112.78.

Further, the overall market capitalisation of BSE-listed firms rose to nearly Rs 404.1 lakh crore from nearly Rs 401.4 lakh crore in the previous session, making investors richer by about Rs 2.7 lakh crore in a single session.

After the RBI curb on Kotak Mahindra Bank, the bank’s share price saw a steep fall of 10.85% to close at Rs 1,643 levels on the BSE. The Kotak Mahindra Bank’s market capitalisation which stood at Rs 3,66,383.76 crore at the end on Wednesday fell to Rs 3,26,615.40 Crore by the end of Thursday.

Uday Kotak who holds 25.71% stake in Kotak Mahindra Bank also lost around Rs 10,225 crore of wealth.

Vodafone Idea set a new record for volumes in a single stock, with over 1,055 crore shares being traded till now on the BSE and NSE combined.

Vodafone shares experienced a rollercoaster ride, rocketing to 25% above the FPO price of Rs 11, peaking at Rs 13.75 during morning trade.

Most major Asian and European stock markets were down amid lingering concerns over elevated interest rates and geopolitical tensions.

The global market largely traded on a mixed note and is now focused on earning reports. Also, the investors were cautious ahead of the release of US GDP data, a key factor for the US Federal Reserve to consider while deciding monetary policy.

Notably, in the last seven days, FIIs sold equities worth a massive Rs 25,853 crore but the DII buying overwhelmed this FII selling.