Market at Close | Nifty tops 23,400 intra-day as indices extend gains for fifth straight session

Indian equity benchmarks extended their winning streak for the fifth consecutive session on Friday (March 21), with the Nifty briefly crossing 23,400 intra-day for the first time in two months.

The Sensex closed 557 points higher at 76,906, while the Nifty gained 160 points to end at 23,350. The Nifty Bank index surged 531 points to 50,594, while the Nifty Midcap index climbed 706 points to 51,851, marking continued broader market outperformance.

From the Sensex basket, NTPC Ltd, Bajaj Finance Ltd, Kotak Mahindra Bank Ltd, Nestle India Ltd, Sun Pharmaceutical Industries Ltd and Tata Motors Ltd were the major gainers.  Infosys Ltd, Wipro Ltd, Mahindra & Mahindra Ltd, Tata Steel Ltd, Titan Company Ltd and Bajaj Finserv

Ltd were the biggest laggards.

Also Read: Adani and Ultratech's entry has de-rated India's wires and cables stocks

Sectors like PSUs, capital market plays, and auto stocks saw significant gains. Oil marketing companies advanced 6-7% despite a rise in crude oil prices. Bajaj Finance hit a record high following Rajeev Jain’s elevation to Vice Chairman. Manappuram Finance surged 12% to an all-time high after Bain Capital’s investment deal.

Two-wheeler auto stocks extended Thursday’s rally, gaining 1-3%. IT stocks recovered from intra-day losses, with the Nifty IT index ending flat. Metals lagged, with the Nifty Metal index slipping 0.5%.

Engineering majors BHEL and L&T closed with 2% gains after securing large orders. Meanwhile, the rupee strengthened for the eighth straight session, ending at a two-month high against the dollar and posting its biggest weekly gain in over two years.

Also Read: Bharat Dynamics shares are up 26% in a month — Should investors book profits?