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March 12, 2024 8:06 PM

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Market rallies for 4th consecutive week

Indian market extended the rally in the fourth consecutive week ended March 7 with benchmark indices hitting fresh record high supported by positive global cues.

In this week, BSE Sensex ended 313 or 0.4 percent higher at 74,119. The Nifty50 index rose 115 points or 0.5 percent to end at 22,493.

BSE Mid-cap Index ended flat. Gainers included Solar Industries India, Bharat Heavy Electricals, Union Bank of India, Oracle Financial Services Software, Oil India, Bank Of India, while losers were Tube Investments of India, Vedant Fashions, MphasiS, L&T Finance Holdings, GlaxoSmithKline Pharmaceuticals, Supreme Industries, New India Assurance Company and Nuvoco Vistas Corporation.

The BSE Small-cap index shed 2.6 percent with IIFL Finance, Cressanda Solution ,IIFL Securities, Sanmit Infra, Global Surfaces, Yasho Industries, Agro Tech Foods, Sigachi Industries, Ashoka Buildcon, Rainbow Childrens Medicare, AGS Transact Technologies, Mahanagar Gas, OnMobile Global, Pricol falling between 12-32 percent.

On the otehr hand, Tata Chemicals, Tata Investment Corporation, Waaree Renewable Technologies, SMS Pharmaceuticals, Kirloskar Brothers, TCPL Packaging, Schneider Electric Infrastructure, Vidhi Specialty Food Ingredients, Infibeam Avenues and MOIL added between 10-35 percent.

On the sectoral front, Nifty PSU Bank index rose 3 percent, Nifty Pharma index was up 1.5 percent, Nifty Energy was up 1.4 percent and Nifty Bank added 1 percent.
On the other hand, Nifty Media lost 3.2 percent, Nifty Information Technology index was down 1.3 percent and Nifty Realty index shed 1 percent.

In terms of the market value, Bharti Airtel added the most in terms of market value, followed by Tata Motors, State Bank of India and Sun Pharmaceutical Industries.

On the other hand, Infosys, Reliance Industries and UltraTech Cement lost the most of their market-cap.