Closing Bell: Indian market surges over 2%; HDFC Twins are the market movers

Closing Bell: Indian market surges over 2%; HDFC Twins are the market movers

by 5paisa Research Team Last Updated: 2022-04-04T17:38:21+05:30

Domestic equity bourse Sensex and Nifty soared on Monday amid cautious gains session across global markets.

The Indian equity indices extended their gains for the second straight session, led by a strong buying interest in banking and financial names. Bank shares zoomed after the companies announced a merger. The headline indices climbed to hit their highest in more than two-and-a-half months after mortgage lender HDFC announced its plan to merge with private lender HDFC Bank. Thus, benchmark indices closed.

At the closing bell on April 4, the Sensex was up 1,335.05 points or 2.25% at 60,611.74, and the Nifty was up 382.90 points or 2.17% at 18,053.40. On the market breadth, around 2534 shares have advanced, 796 shares declined, and 118 shares are unchanged.

Top Nifty gainers of the day were HDFC Bank, HDFC, Adani Ports, HDFC Life and Kotak Mahindra Bank, while top losers include Infosys, Titan Company and Tata Consumer Products. In the buzzing stocks, HDFC twins (HDFC and HDFC Bank) were the top Nifty gainers as the stocks surged 9.12% and 9.83%, respectively, after the merger announcement. Also trending today were shares of mining and minerals companies with the likes of Vedanta, NMDC and Coal India gaining up to 4%. Ashapura Minechem had zoomed more than 13%.

On a sectoral basis, all the sectoral indices ended in the green with bank, metal, and power rising 2-3%. In the broad market, the BSE Midcap and Smallcap indices rose 1% each.

According to news agency Reuters, while Russia-Ukraine peace talks dragged on, reports of Russian atrocities led Germany to say the West would agree to impose more sanctions in the coming days.

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