Stock market news: NSE Nifty 50, and S&P BSE Sensex closed Monday, April 1, 2024, on a positive note after a rally that drove the benchmarks to their respective record highs. NSE Nifty surged 0.91 per cent to touch a record high of 22,529.95, and BSE Sensex rose 0.82 per cent to an all-time high of 74,254.62 during intraday trade.

At close, BSE Sensex surged 0.54 per cent to 74,051.17 and NSE Nifty 50 surged 0.61 per cent to 22,462.00. After opening on a positive note today, taking cues from global peers and enhanced hopes of a Fed rate cut, both Nifty and Sensex touched their respective record highs.

Most of the sectoral indices ended in green today except for Nifty Auto and Nifty FMCG which ended marginally lower. Nifty Media, the top gainer among the sectoral indices, ended 4.69 per cent higher, closely followed by Nifty Realty which ended 4.36 per cent higher.  Nifty Metal ended 3.7 per cent higher, followed by Nifty PSU Bank which ended 1.51 per cent higher.

Vaibhav Vidwani, Research Analyst, BONANZA PORTFOLIO LTD, said “A lower-than-expected US inflation number supported forecasts that the Federal Reserve will announce its first interest rate decrease of the year in June, which led gold prices surged to a new high.”

“Today's spike in metal stocks came from Chinese economic statistics suggesting that the manufacturing sector is recovering, which might mean higher demand for metals overall. China's manufacturing activity grew at the fastest pace in 13 months, marking the first expansion in six months. The increase in the manufacturing purchasing managers index from 49.1 in February to 50.8 in March is a sign that the second-largest economy in the world is normalising”, Vidwani added.

Sensex top gainers

• JSW Steel: 4.88 per cent
• Tata Steel: 4.36 per cent
• UltraTechCement: 2.38 per cent
• NTPC: 1.82 per cent
• L&T: 1.72 per cent
• HDFC Bank: 1.51 per cent

Sensex top losers

• Titan: -1.76 per cent
• NestleInd: -1.22 per cent
• Bharti Airtel: -0.82 per cent
• IndusIndBank: -0.77 per cent
• Tech Mahindra: -0.45 per cent
• M&M: -0.29 per cent

Nifty top gainers

• JSW Steel: 4.86 per cent
• Tata Steel: 4.46 per cent
• Divis Labs: 4.14 per cent
• Shriram Infrastructure: 3.27 per cent
• Adani Ports: 2.69 per cent
• UltraTechCement: 2.12 per cent

Nifty top losers

• Eicher Motors: -1.66 per cent
• Titan: -1.47 per cent
• NestleInd: -1.25 per cent
• LTIM: -0.98 per cent
• Tata Consumer Products: -0.78 per cent
• Bajaj Auto: -0.72 per cent