The Indian stock market closed on a positive note on Thursday, with the Nifty 50 posting its best F&O expiry in six months. The Sensex gained 349 points to reach 60,649, while the Nifty rose by 101 points to end at 17,915, closing at over a two-month high. The Nifty Bank rose 171 points to reach 43,001, and the Midcap index gained 175 points, ending at 31,404.
Bajaj Group stocks, including Bajaj Finserv, Bajaj Finance, and Bajaj Auto, led the market higher, while HUL remained under pressure with Q4 earnings largely below expectations. SBI Life gained, while HDFC Life slipped after better-than-expected earnings.
Midcap IT stocks, including LTTS, Coforge, and Persistent, saw a jump in stock prices after reporting earnings. Laurus Labs, on the other hand, reported a weak set of earnings, with the stock down 3%.
Godrej Cons fell, while Raymond rose on FMCG business deal. Voltas was the top midcap loser as market share loss continues, down 5%.
Despite mixed trading in specific sectors, the market breadth slightly favored advances, with an advance-decline ratio of 1:1. BSE companies gained a market capitalization of over Rs 1.3 lakh crore on Thursday.
Investors are eagerly awaiting more financial results from India Inc, with Axis Bank, Wipro, and Tech Mahindra set to post their earnings later in the day.