Sensex crosses 74K mark in 1,000 points rally

Sensex crossed the 74K mark after it gained greater than 1000 points in a broad-based rally on Thursday. Sensex was buying and selling at 74,044 points, up 1047 points or 1.44 per cent.

Among the Sensex shares, Bajaj Fnserv is up greater than 4 per cent, Bajaj Finance is up greater than 3 per cent. M&M is up 3.3 per cent, SBI is up 2.8 per cent, Powergrid is up 2.5 per cent, L&T is up 2.3 per cent. More than 50 per cent of the shares are advancing on the BSE.

Shiju Koothupalakkal – Technical Research Analyst, Prabhudas Lilladher, mentioned the Nifty index has witnessed a big rise from 17,360 stage to the touch the excessive of twenty-two,525 stage in the final monetary yr 2023-2024 gaining nearly 29 per cent with at the moment hovering close to the all-time excessive zone, sustaining a robust uptrend and has additional scope of upward motion having greater targets of twenty-two,700 and 23,200 ranges for the medium-term timeframe. As of now, the vital near-term help zone can be round 21,900 ranges.

V Okay Vijayakumar, Chief Investment Strategist, Geojit Financial Services, mentioned the upward directional transfer anticipated from early April has been confirmed by the sturdy rally in Nifty yesterday (Wednesday). The main catalyst for the continuing rally is the massive liquidity flows into the market. DIIs have pumped in a large Rs 24,373 crore into the market over the last seven buying and selling days imparting resilience to the market.

(With inputs from IANS)