Thursday's closing gains in benchmark indexes were driven by a surge in auto, banking, and capital goods sectors. On the final trading day of FY24, Nifty increased by 203 points to 22,326 while the Sensex closed 655 points higher at 73,651. On March 29, the stock market is closed in observance of Good Friday.

Today, the market value of companies listed on the BSE increased to Rs 386.91 lakh crore. The top Sensex gainers, increasing to 3.91 per cent, were the Bajaj twins, SBI, M&M, PowerGrid, and Nestle India. Thirty Sensex stocks closed higher on the day.

The sole Sensex losers were Tech Mahindra, Axis Bank, and RIL shares, which dropped by up as 0.69%.

"Nifty has rallied significantly, surpassing the 22,500 mark after maintaining momentum beyond 22,100," stated Rupak De, Senior Technical Analyst at LKP Securities. Additionally, the daily timescale shows a distinct breakout in consolidation, indicating growing confidence. However, Nifty saw early resistance close to its previous swing high of 22,526. As such, in order to maintain this rally, it has to make a significant move over the 22,525 mark. On the down side, 22,200 may act as a temporary floor."

The top sectoral gainers on the BSE were capital goods, banking, and auto stocks, with their respective BSE indexes increasing 924 points, 435 points, and 578 points.

The last 19 BSE sectoral indexes were all positive. The market's breadth was unfavorable, though, as 1809 stocks on the BSE ended the year down compared to 2014. 115 shares remained unaltered.

"Indian equities closed the day and fiscal year on an optimistic note, with volatility by the end of the session, as buying by retails, DIIs, and FIIs surged across categories," stated Vinod Nair,  Head of Research at Geojit Financial Services.

The market leaders are now the mid- and small-cap equities, which have recovered from the initial sell-off earlier in the month. An optimistic view for the stock market in FY25 is suggested by an increase to the projection for the domestic economy. But while mid-cap companies continue to trade at premium prices, the focus is on large caps, which may cause short- to medium-term concerns for the whole market."

Prior Session

On Wednesday, the local equities market closed higher. The Nifty50 increased by 118.95 points, or 0.54%, to 22,123.65, while the Sensex gained 526.01 points, or 0.73%, to 72,996.31. Reliance Industries, Maruti, Bajaj Auto, and Bajaj Finance were the top Nifty gainers. Dr. Reddy's, Wipro, Hero MotoCorp, and UPL were the laggards.