Indian shares ended Thursday's volatile trading session with gains, settling at the day's high as buying kicked in in the last hour amid MSCI flows. The benchmark BSE Sensex rose 195 points to settle at 72,500, while the broader NSE Nifty50 rose 32 points to end at 21,983, slightly lower than the psychological mark of 22,000. Indices were able to recover half of Thursday's losses in the last hour.
#MarketAtClose | Market surges in last hour amid MSCI Flows, ends at day’s high
Market regains half of Thursday’s losses, Nifty back above 22,200Reliance, IndusInd Bank & ICICI amongst top Nifty contributorsBanks lead the recovery in market, Nifty Bank up 700 points from… pic.twitter.com/2qfrs3H3HE— CNBC-TV18 (@CNBCTV18Live) February 29, 2024
The Nifty 50 has been consolidating near the 22,000 level for the last 11 sessions, closing between 22,212.70 and 21,910.75 since February 15.
Reliance Industries rose over half a percent after the conglomerate announced a merger with Walt Disney on Wednesday, creating a $8.5 billion entertainment behemoth.
The broader markets, small- and mid-caps added 0.64% and 0.51%, respectively, recovering from a 1% drop earlier in the session.
Meanwhile, the Indian rupee ended at 82.91 against the US dollar.
#RupeeAtClose | Rupee ends at 82.91/$ against Wednesday’s close of 82.92/$ pic.twitter.com/fj3El9Tr3U
— CNBC-TV18 (@CNBCTV18Live) February 29, 2024
India's gross domestic product (GDP) data is due after market hours and the Street also awaits the US inflation data, which could provide a glimpse into the Federal Reserve's future rate trajectory.
First Published: Feb 29, 2024 4:12 PM IST
Note To Readers
Disclosure: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!
BJP's Hindi heartland dominance faces test in phase 3 polls
May 2, 2024 9:14 PM
Lok Sabha Election: Re-elections at a Ajmer booth after presiding officer misplaces register of voters
May 2, 2024 4:54 PM