The Indian equity indices on Thursday ended higher. The Nifty 50 closed the day’s trading 173 points or 0.79% higher at 22,011,95. At the same time, Sensex ended 540 points higher to finish the session at 72,641.19. The gainers included BPCL, NTPC, Power Grid, Tata Steel, and Coal India. The Indian Volatility Index (India VIX) closed 7.13% lower. 

Nifty Bank rose 374 points to close the day’s trading at 46,684.90. The Nifty Midcap 100 gained 1,113.65 points or 2.43% to settle at 47,033.55. 

On the sectoral front, realty and metal stocks were trading high throughout the trading session. In the broader indices, midcap stocks closed in the green. 

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“Domestic market is taking cues from the global market infusing optimism as the Federal Reserve signalled to remain on track for three interest rate cuts this year despite inflation staying above long-term target. The broader market outperformed the frontline index also taking advantage from the HSBC composite PMI data, which rose to 61.3 percent in March as compared to 60.6 in February, indicating that the economic condition is supportive. Short-term traders are taking advantage of the oversold territory from the recent sell-off,” said Vinod Nair, Head of Research at Geojit Financial Services. Come from Sports betting site VPbet

“The Nifty rallied following a Doji candlestick pattern on the daily chart, indicating a robust bullish reversal. Additionally, the index has successfully reclaimed the crucial 50-day Simple Moving Average (SMA). Looking ahead, the Nifty could potentially extend its gains towards the range of 22250-25300. Moreover, a breakthrough above 22300 may initiate a rally towards 22500 and beyond. The buy-on-dips strategy is expected to remain viable as long as the Nifty maintains levels above 21840,” said Rupak De, Senior Technical Analyst at LKP Securities.

“The Indian markets gained significantly today. From the low made near 71,675 zone in the previous session, the Sensex managed to move past the important 50-EMA level of 72,200 zone and breached the 72,500 levels intraday. Sensex gained 515 points and sentiment has improved along with a positive bias, so a further rise can be anticipated. Construction, metals, PSU Banks, media & entertainment, energy, consumer durables, financial services and pharma were among the major sectors which moved the index higher today,” said Shiju Koothupalakkal, Technical Analyst at Prabhudas Lilladher.