Market Update: Sensex closes 224 points up, Nifty ends at 13,740

Bull run continued at the bourses on Thursday as investors lapped up blue-chip stocks. Heavyweights like HDFC, Bajaj Finance, HDFC Bank, and Reliance ended between 0.5 per cent and 3 per cent higher on the S&P BSE Sensex being the top contributors towards the index's rally.

Domestic equity market benchmarks BSE Sensex and Nifty 50 Indian share market benchmarks ended at record closing highs.

BSE Sensex jumped 224 points or 0.48 per cent to end at 46,890 while the broader Nifty 50 ended at 13,740, up 58 points or 0.42 per cent.

Housing Development Finance Corporation (HDFC), Bajaj Finance, HDFC Bank, IndusInd Bank, Power Grid Corporation of India and Reliance Industries Ltd (RIL), were the top gainers among others.

However, ONGC, Maruti Suzuki, Tata Steel, Hindustan Unilever Ltd (HUL), Bharti Airtel, Infosys were among the Sensex laggards. The trend among Nifty sectoral indices remained mixed. Nifty PSU Bank and Nifty Metal indices ended the day in the red, down 1.4 per cent and 1.3 per cent, respectively.

Domestic equities remained upbeat and recorded fresh highs. A dovish tone of Federal Reserve along with assurance of continuing asset purchase program until economy makes a substantial progress bolstered investors' sentiment, said Binod Modi, Head- Strategy at Reliance Securities.

Better prospects of earnings recovery, dismal interest rate scenario and strong FPI participation led markets to see record highs, he noted.

Foreign portfolio investors (FPIs) were net buyers in the capital market as they purchased shares worth Rs 1,981.77 crore on Wednesday, according to provisional exchange data.

(with PTI inputs)

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