Market Wrap, April 22: Indices rally for 6th session; NIFTY ends at 24,167; Waaree Energies jumps 7% ahead of Q4 results

At close, the S&P BSE SENSEX stood at 79,595.59, up 187.09 points, or 0.24%, while the NSE's NIFTY50 index settled at 24,167.25, up 41.70 points, or 0.17%.

Banking stocks continued their climb for the sixth session. The latest factor behind a surge in banking stocks is the relaxed liquidity coverage ratio (LCR) norms for the banks.

Besides the banking sector, other pockets that contributed to the market's rally were FMCG, consumer durables, and realty stocks.

The BSE Fast Moving Consumer Goods index ended at 20,786.63, up 1.87%, while the BSE CONSUMER DURABLES index settled at 58,736.93, up 1.43%.

The BSE REALTY index ended 2.40% higher at 6,860.78 levels.

The top losers were the IT, utility, and power sectors.

From the SENSEX pack, ITC, Hindustan Unilever (HUL), Mahindra & Mahindra (M&M), HDFC Bank, Eternal, Kotak Mahindra Bank, State Bank of India and ICICI Bank were the major gainers.

IndusInd Bank, Power Grid, Bharti Airtel, Infosys, and Bajaj Finserv were among the laggards.

Foreign institutional investors (FIIs) bought equities worth ₹1,970.17 crore on Monday, according to exchange data.

Buzzing Stocks

The stock rallied as the company reported a narrowing of losses for Q4. The company reported a loss of ₹74.47 crore as compared to a loss of ₹215.93 crore in the same period last year.

Meanwhile, the revenue from operations fell 35.1% to ₹952.96 crore in the quarter under review. In the fourth quarter of the previous year, the company reported a revenue of ₹1,469.31 crore.

Broader Market

The broader market indices outperformed the headline indices. The BSE MidCap index ended at 43,252.46, up 349.44 points, or 0.81%, while the BSE SmallCap index settled at 49,143.12, up 397.70 points, or 0.82%.