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Bulls Take Charge: Sensex Jumps 664 Pts, Reliance Leads Gains

Published 31-03-2023, 10:28 am
1YMU24
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NQU24
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NSEI
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NIFVIX
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NSEBANK
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NIFTYIT
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NIFTYMET
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NIPHARM
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ADEL
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APLH
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HCLT
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HALC
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ICBK
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ONGC
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RELI
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SUN
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TAMO
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NEST
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BSESN
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NIFPVTBNK
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By Malvika Gurung

Investing.com --  Indian equity benchmark indices made a strong opening to the last day of the financial year 2022-23, tracking positive cues from global markets as Asian peers jumped following an overnight upswing on Wall Street, and investors omitted concerns of further banking turmoil.

At 2:12 pm, Headlines Nifty50 surged 1.1% to 17,267 points and Sensex rallied 663.72 points or 1.15% at the time of writing.

The market fear barometer India VIX plunged 11.4% in the session and slumped 5.5% to 12.8 levels while writing.

Gains on Dalal Street were led by a strong upswing in the market behemoth Reliance Industries (NS:RELI), along with a sharp uptick across metal, IT and bank stocks. 

Heavyweights Reliance, ICICI Bank (NS:ICBK), ONGC (NS:ONGC), Tata Motors (NS:TAMO), Adani Enterprises (NS:ADEL), Hindalco (NS:HALC), Nestle (NS:NEST) India and HCL Tech (NS:HCLT) led the rally on the Nifty pack, while pharma majors Sun Pharmaceuticals (NS:SUN) and Apollo Hospitals (NS:APLH) exerted the most pressure on the benchmark.

Besides Nifty Pharma and Nifty Healthcare, all sectoral indices under the Nifty umbrella traded in the green, led by a 2% jump in Nifty Oil & Gas, followed by Nifty Metal and Nifty Private Bank. Nifty Bank surged 1.3% and Nifty IT jumped 1.22%.

Key US contracts Dow Futures advanced 0.17% and Nasdaq 100 Futures rose 0.35%.

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