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Sensex, Nifty Rally Over 1% On Buying In Banking Space
The Morning Standard
|April 30, 2024
BACKED by strong buying in the banking space after big names reported robust March quarter earning numbers, domestic equity markets overcame the Monday blues with the benchmarks indices - BSE Sensex and the NSE Nifty50advancing more than 1% each.
The local market was also supported by falling bond yields amidst speculations that the Federal Reserve is likely to go with at least two rate cuts this year.
The Sensex closed the session 1.28% or 941.12 points higher at 74,671.28 levels, while NSE Nifty50 closed 1% or 223.44 points higher at 22,643.40 levels.
The broader market benchmarks, Nifty MidCap and SmallCap, ended with gains of over 0.40% and 0.20%, respectively. The overall market capitalisation of BSE-listed firms surged to 406.5 lakh crore on Monday from 404 lakh crore on Friday, making investors richer by 2.5 lakh crore.
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