Sensex, Nifty Update: Indian Stocks Surge On Final Trading Day Of Fiscal Year 2024

The Indian stock market ended the final trading day of fiscal year 2024 on a high note, with the BSE Sensex rising 655.04 points or 0.90% to close at 73,651.35 and the NSE Nifty gaining 203.25 points or 0.92% to settle at 22,326.90. This was driven by a rise in financial stocks following the RBI's relaxation of rules for lenders' investments in alternative investment funds. The overall market sentiment was positive, with the market showing strength in the banking, energy, and auto sectors. However, investors were advised to prioritize stock selection and risk management.

Here is a breakdown of the performance of individual stocks:

  • REC Limited's stock rose 1.62% on the NSE, trading at ₹452.70.
  • The rupee depreciated 6 paise to settle at 83.39 (provisional) against the US dollar on Thursday due to a strengthening greenback against major rivals overseas and rising crude oil prices in the international markets.
  • Muthoot Microfin Ltd has announced a syndicated social term loan of ₹75 million in the form of an ECB (External Commercial Borrowing).
  • Wipro Limited has announced a collaboration with the Indian Institute of Science (IISc), an institute renowned for research and education in science and engineering, to offer eligible employees a higher education program in AI.
  • BSE and its clearing arm Indian Clearing Corporation Limited (ICCL), today, successfully launched the beta version of the T+0 settlement.
  • Coal India Limited's shares rose 0.82% after the company reported that it had surpassed its coal supply target to the thermal power sector for the fiscal year 2024 by delivering 610.8 million tonnes (MTs) of coal, exceeding the annual target of 610 MTs.
  • HG Infra Engineering Ltd informed the exchanges that Brajesh Kumar Sohrot, President, Techno Commercial, has tendered his resignation to pursue a new endeavour outside the Company effective from March 30, 2024.
  • Mahindra USA Inc.'s Mexican subsidiary has ceased to be a subsidiary of Mahindra USA Inc.
  • Astra Microwave Products Ltd has received an order from BEL, Ghaziabad.
  • DCM Shriram Industries Ltd has declared an interim dividend of ₹2 per equity share of face value of ₹2 each (100 per cent) for the financial year 2023-24.
  • Shilpa Pharma Life Sciences, a subsidiary of Shilpa Medicare Ltd, has announced the appointment of Santosh Kumar Mahil as Chief Executive Officer (CEO).
  • Life Insurance Corporation of India has filed an appeal before Appellate Joint Commissioner (ST), Hyderabad Rural Division, against the order issued by Joint Commissioner, Warangal, in the GST tax matter.

These are the latest updates on the Indian stock market as of March 28, 2024.