Market Performance Overview:
On March 28, the financial year of 2024 concluded on a positive note as the stock market witnessed significant gains for the second consecutive session. This bullish trend was primarily fueled by widespread buying activities observed across various sectors.
Index Performance:
The benchmark indices, namely the Sensex and the Nifty, showcased impressive performance by the end of the trading session. The Sensex surged by 655.04 points, marking a notable increase of 0.90%, closing at 73,651.35. Similarly, the Nifty recorded a substantial gain of 203.20 points, reflecting a rise of 0.92%, as it concluded the day at 22,326.90.
Intraday Movement:
The market commenced the trading day on a positive note and witnessed a steady expansion of gains as the session progressed. This bullish momentum drove both the Nifty and the Sensex to approach record levels, with intraday peaks surpassing the significant thresholds of 22,500 and 74,000 points respectively.
Impact of Final-Hour Trading:
Despite the promising performance witnessed throughout the day, the final hours of trading saw a moderation in the market's gains. The surge experienced earlier was somewhat mitigated as a result of selling pressure witnessed during this period.
Sectoral Performance:
Across various sectors, the market exhibited a broad-based uptrend, with all sectoral indices closing in the green. Notably, sectors such as auto, healthcare, metal, power, and capital goods emerged as frontrunners, each recording gains of 1% by the end of the trading session. Furthermore, sectors including oil & gas, Information Technology, banking, realty, and FMCG also contributed to the positive sentiment, albeit with slightly lower gains of 0.5% each.
Overall, the market's performance on March 28, 2024, underscored a significant upward trajectory, driven by robust buying interest across sectors. While the indices showcased remarkable gains and approached record levels during intraday trading, the final-hour selling tempered some of the earlier momentum. Nonetheless, the broad-based positivity observed across various sectors reflected the overall strength and resilience of the market.
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