Market kicks off new fiscal on high note; auto stocks rally

Mumbai, Maharashtra, India Updated: Apr 02, 2018, 05:43 PM(IST)

File photo. Photograph:( Zee News Network )

The domestic stock market started the new fiscal on a positive note today, with the flagship Sensex rising about 287 points to end above the key 33,000-level as index heavyweights RIL, Tata Motors and Maruti led the rally.

Similarly, the broader NSE Nifty also managed to close above the 10,200-mark.

The bourses reopened today after a long weekend following holidays for Mahavir Jayanti and Good Friday on last Thursday and Friday, respectively.

Besides, a positive start in the April derivative series boosted investor sentiments as they indulged in creating fresh positions, brokers said.

Sentiments also got a boost after several automakers posted better-than-expected sales data for March month, they said.

However, other Asian markets turned weak after initial firmness due to profit-taking in late trade and any absence of cues from European markets that were closed for Easter.

The Sensex after a gap-up opening to regain the 33,000-mark advanced to hit a high of 33,289.34 before terminating at 33,255.36, showing a hefty gain of 286.68 points, or 0.87 per cent. 

The gauge had lost 205.71 points in the last session of FY18 on Wednesday.

The NSE 50-share Nifty also spurted by 98.10 points, or 0.97 per cent, to end at 10,211.80 after moving in a range of 10,220.10 and 10,127.75.

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