At 9.15 am, the benchmark BSE Sensex was up by 302.34 points or 0.39 per cent, reaching 78,286.72. The broader NSE Nifty opened 92.75 points up or 0.39 per cent in the green, reaching 23,751.10.
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Among the 30 Sensex stocks, UltraTech Cement rose the most upon open by 1.75 percent, trading at ₹11,244.45. This was followed by HCL Technologies, which was up 1.24 percent, trading at ₹1624, and Infosys, which was up by 1.06 percent, trading at ₹1,609.
Only 4 of the Sensex stocks were in the red.
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Among the Nifty sectoral indices, the Nifty IT Index rose the most by 0.96 percent, reaching 37,573.45. This was followed by Nifty Midsmall IT & Telecom, which was up 0.82 percent, reaching 9,377.70, and Nifty Realty, which was up 0.72 percent, reaching 882.25.
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The stock market rallied and closed well in the green yet again after the previous trading session ended on Monday, March 24, 2025. The market had also closed in the green for all the days of the previous week.
The benchmark BSE Sensex closed 1,078.87 points or 1.40 percent in the green, reaching 77,984.38. The broader NSE Nifty was up by 307.95 points or by 1.32 percent in the green, reaching 23,658.35.
“The Nifty rose for the sixth straight day yesterday, but the demand for protection via the India VIX also jumped, given the swiftness of the recent advance,” said Akshay Chinchalkar, Head of Research at Axis Securities. “Although overall breadth has been firmly positive, the advance has been vertical, with three upside gaps opening up since the March 17 low.”
He added that this “has sent some near-term oscillators to overextended territory, so bulls need to exercise caution” and that “resistance for the day is expected to be seen in the 23,827 and 23,960 zone, while first support sits near 23,402.”
Among the Sensex stocks, NTPC rose the most by 4.61 percent, closing at ₹367.35. This was followed by Kotak Mahindra Bank, which was up 4.51 percent, closing at ₹2,178.35, and SBI, which was up 3.77 percent, closing at ₹781.40.
NTPC had also risen the most at Friday's close by 2.78 percent, closing at ₹351.15, while Kotak Mahindra Bank had risen the third-most, closing 2.41 percent up at ₹2,084.40.
Only 7 out of the 30 Sensex stocks were in the red.
Among the Nifty sectoral indices, the PSU Bank Index rose the most by 3.18 percent, reaching 6,326.10. This was followed by Nifty Private Bank which was up 2.42 percent, reaching 25,842.85, and the Nifty Financial Services 25/50 Index, which was up 1.89 percent, reaching 26,825.85.
Banking stocks rose after a nationwide strike scheduled for Monday and Tuesday by the United Forum of Bank Unions (UFBU) was called off.
The UFBU, a collective of nine bank unions representing over eight lakh employees and officers in public sector banks, private sector banks, foreign banks, co-op banks and regional rural banks, arranged the strike on Monday and Tuesday over some demands not being met by the IBA.
These demands include ensuring sufficient recruitment in all job cadres across banks to ensure adequate branch staffing, regularising all temporary employees, implementing a five-day work week for all banks, withdrawing performance reviews, ensuring the safety of bank officers and staff against assaults, and amending the Gratuity Act to increase the ceiling to ₹25 lakh.
However, the strike has now been postponed indefinitely.
In the Nifty PSU Bank index, Union Bank of India rose the most (4.29% up), followed by Bank of Baroda (3.83% up), and SBI (3.69% up).
In the Nifty Private Bank Index, Kotak Mahindra Bank rose the most (4.86% up), followed by Federal Bank (4.29% up), and RBL Bank (4.07% up).
In the Nifty Financial Services 25/50 Index, Kotak Mahindra Bank rose the most (4.86% up), followed by Power Finance Corporation (4.71% up), and REC (3.90% up).
Foreign Institutional Investors (FIIs) continued buying up Indian stocks, becoming net buyers of ₹3,055.76 crore worth of equities, while Domestic Institutional Investors (DIIs) also became net buyers after previously becoming a net sellers, buying up a difference of ₹98.54 crore worth of equities.
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