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March 2, 2024

Sensex, Nifty Conclude Special Live Trading Session with Record High Closings

Leading Indian stock exchanges BSE and NSE wrapped up a special trading session on Saturday with record-high closings for benchmark indices Sensex and Nifty, continuing the momentum from the previous day’s strong rally. The special session aimed to assess the exchanges’ readiness to manage major disruptions or failures at the primary site.

During the intra-day switch over from the Primary Site (PR) to the Disaster Recovery (DR) site, the BSE Sensex edged up by 60.80 points or 0.08%, reaching an all-time closing high of 73,806.15. It hit a record peak of 73,994.70, marking a gain of 249.35 points or 0.33% during the session.

Similarly, the Nifty rose by 39.65 points or 0.18% to settle at a new closing high of 22,378.40. It touched a lifetime peak of 22,419.55, surging by 80.8 points or 0.36%. The market capitalization of BSE-listed companies also hit an all-time high of Rs 394.06 lakh crore.

The special session comprised two trading windows: the first from 9:15 am to 10 am on the PR site and the second from 11:30 am to 12:30 pm on the DR site, as announced by the exchanges earlier.

Tata Steel, Tata Motors, JSW Steel, Wipro, ITC, and Asian Paints emerged as major gainers among Sensex firms, while Mahindra & Mahindra, NTPC, Maruti, and UltraTech Cement lagged behind.

India’s economy exceeded expectations by growing at 8.4% in the final quarter of 2023, the fastest pace in one-and-a-half years. Additionally, the US markets closed with gains on Friday.

The manufacturing sector in India witnessed a notable uptick, with the HSBC India Manufacturing Purchasing Managers’ Index (PMI) rising from 56.5 in January to 56.9 in February, indicating the strongest improvement in sector health since September 2023.

Foreign Institutional Investors (FIIs) bought equities worth Rs 128.94 crore on Friday, according to exchange data. In the broader market, the BSE smallcap gauge climbed by 0.70%, while the midcap index rose by 0.67%. Key gainers included the metal, consumer durables, realty, and healthcare sectors, while Bankex emerged as the sole laggard.

On Friday, the BSE benchmark surged by 1,245.05 points or 1.72% to close at 73,745.35, while the Nifty climbed by 355.95 points or 1.62% to settle at 22,338.75.

Rajan Shukla

Rajan Shukla

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