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India's Third Giant Leap
This Could be One of the Biggest Opportunities for Investors
- Home
- Todays Market
- Indian Stock Market News April 1, 2022
Sensex Zooms 708 Points, Nifty Ends Near 17,700; NTPC, BPCL and Power Grid Rally 4% Fri, 1 Apr Closing
Indian share markets rose sharply in last hour of trade and ended on a strong note.
Benchmark indices gained momentum as crude oil prices tumbled and global market mood remained supportive.
Adding to sentiment was March gross GST revenue collection at Rs 1.42 lakh crore, the highest ever.
Banking, finance and power stocks witnessed huge buying and powered indices to the day's high close.
At the closing bell, the BSE Sensex stood up by 708 points, up 1.2%.
Meanwhile, the NSE Nifty closed higher by 206 points. In intraday trade, the Nifty surpassed 17,700-mark for the first time since 3 February.
NTPC and Power Grid were the top gainers. Tech Mahindra and Dr Reddy's Lab, on the other hand, were the top losers.
In broader markets, the BSE midcap index gained 1.4% while the BSE smallcap index surged 1.7%.
Hindustan Oil Exploration tanked over 15% today following the company's update on the B-80 project. The company said there has been a delay in the commencement of production from the field due to operational issues.
India's largest iron ore miner NMDC hiked the prices of lump ore by Rs 100 a tonne and Rs 200 in case of fines with immediate effect.
Shares of Adani Power and Adani Enterprises hit their 52-week highs.
Speaking of stock markets, India's #1 trader Vijay Bhambwani explains how the nickel broke the market, in one of his videos.
Tune in to the below video to find out more:
Russia-Ukraine War: How Nickel Broke the Market.
In news from the commodities space, gold prices this week erased last week's gains as the metal's safe-haven demand dimmed amid progress in Russia-Ukraine peace talks.
Gold futures on MCX ended Rs 310 per 10 grams lower yesterday at Rs 51,275 levels, dipping Rs 4,283 per 10 grams from its recent high of Rs 55,558 levels.
Speaking of gold, have a look at the chart below to see how gold has inched up ever since the Russia invaded Ukraine.
Gold Prices Inching up since Russia Invaded Ukraine
In dollar terms, gold is up nearly 13% on a year-to-date (YTD) basis. In February 2022 alone it was up 6%.
To know what's moving the Indian stock markets today, check out the most recent share market updates here.
For information on how to pick stocks that have the potential to deliver big returns, download our special report now!
Read the latest Market Commentary
Indian Share Market Update: Top Gainers and Losers
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