On Thursday, benchmark indices resumed their winning run for the fourth straight session, marking a notable shift in market mood. Even better, they experienced their largest gain in four years, rising 4.5% during this week with fewer holidays.
While the Nifty increased 414.45 points, or 1.77%, to close beyond the 23,800 mark at 23,851.65, the Sensex surged 1,508.91 points, or 1.96%, to conclude at 78,553.20, its highest closing level since January 3. Demand for banking shares was robust on Thursday, as the BSE Sensex rose 1,557.21 points, or 2.56%, to a new all-time closing high of 62,293.27.
Following Thursday’s surge, both indices had their largest weekly gains since the week ending February 5, 2021, a period of four years. After two weeks of declines, the Sensex and Nifty both saw gains of 4.52% and 4.48%, respectively.
Both the Sensex and the Nifty have increased by 6.37% and 6.48% in the last four sessions alone. Investors’ wealth grew by ₹17.92 lakh crore over the course of the week and by ₹4.6 lakh crore on Thursday. The BSE’s market capitalization increased by ₹25.77 lakh crore during the four sessions.
The BSE Midcap and BSE Smallcap indices gained 0.56% and 0.52% on Thursday, although the broader indices did not perform as well as the benchmarks.
Foreign portfolio investors (FPIs) bought shares worth ₹4,667.94 crore on Thursday and ₹15,492 crore over the previous three sessions, continuing their buying spree for the third straight session. On the other hand, shares valued at ₹6,470 crore during the last three sessions and ₹2,006.15 crore on Thursday were sold by domestic institutional investors (DIIs), who were net sellers.
