Stock Market Today: Nifty, Sensex Close At Highest Level In Seven Sessions

-The local currency closed flat against the U.S. Dollar at 83.50 on Thursday.

Source: Cogencis

Benchmark equity indices recovered in the last hour of trade and surged to their highest level in seven sessions. The Nifty reclaimed 22,400 for the first time after May 6.

The Nifty closed 0.92% or 203.30 points higher at 22,403.85 and the Sensex closed 676.69 points or 0.93% higher at 73,663.72.

"The Index has not only decisively breached its strong resistance zone of 22,240-22,330 but managed to cross its 50DMA also which suggests a continuation of the current up-move to 22,520 while support level is shifted higher at 22,260," said Aditya Gaggar, director of Progressive Shares.

Shares of HDFC Bank Ltd., Infosys Ltd., Bharti Airtel Ltd., Mahindra & Mahindra Ltd., and Reliance Industries Ltd. contributed the most to the gains.

Meanwhile, those of Maruti Suzuki Ltd., State Bank Of India, Tata Motors Ltd., Power Grid Corp. Of India, and Bharat Petroleum Corp Ltd. capped the upside.

Most sectoral indices ended higher with Nifty IT and Nifty Realty leading.

Broader markets ended higher on BSE. The S&P BSE Midcap ended 1.07% and the S&P BSE Smallcap settled 0.85% up.

On BSE, 19 sectors advanced, and one declined out of 20. The S&P BSE Capital Goods was the best performing sector on Thursday. The S&P BSE Utilities was the worst performing sector

Market breadth was skewed in favour of buyers. Around 2,140 stocks rose, 1,689 stocks declined, and 123 stocks remained unchanged on BSE.

• Revenue at Rs 450 crore vs Rs 428 crore, up 5%

• EBITDA at Rs 49 crore vs Rs 65 crore, down 24.5%

• Margin at 11% vs 15.1%

• Net profit at Rs 22 crore vs Rs 26 crore, down 14.6%

• Revenue down 16% at Rs 1,611 crore vs Rs 1,929 crore

• Ebitda down 1% at Rs 354 crore vs Rs 357 crore

• Margin at 21.9% vs 18.5%

• Net profit up 10% at Rs 243 crore vs Rs 221 crore

• Revenue at Rs 657 crore vs Rs 605 crore, up 8.7%

• EBITDA at Rs 219 crore vs Rs 186 crore, up 18.3%

• Margin at 33.4% vs 30.7%

• Net profit of Rs 88 crore vs loss of Rs 503 crore