Markets extend gains for 5th session; Sensex revisits 74k
The Hindu
BSE Sensex climbed 486.50 points or 0.66% to settle at 74,339.44.
Rising for the fifth straight session, equity benchmark Sensex rallied nearly 500 points to reclaim the 74,000 mark while the Nifty closed above the 22,550 level on April 25, driven by heavy buying in banking, financial and metal stocks.
Recovering after a sell-off in early trade, the 30-share BSE Sensex climbed 486.50 points or 0.66% to settle at 74,339.44. During the day, it surged 718.31 points or 0.97% to 74,571.25.
The NSE Nifty advanced 167.95 points or 0.75% to 22,570.35.
From the Sensex basket, Axis Bank jumped 6% after the company reported a consolidated net profit of ₹7,599 crore during the March 2024 quarter.
State Bank of India, NTPC, Nestle, Sun Pharma, JSW Steel, ITC, Mahindra & Mahindra and HCL Technologies were among the other major gainers.
Kotak Mahindra Bank tanked 10.85% after the RBI barred the company from onboarding customers online and issuing credit cards.
Cracking down on repeated non-compliance with IT norms, the RBI on Wednesday barred Kotak Mahindra Bank from onboarding new customers through its online and mobile banking channels and issuing fresh credit cards with immediate effect after the regulator found “serious deficiencies” in the lender’s IT risk management.
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