Markets rally for 4th day as Sensex reclaims 60,000 mark, bank & finance stocks spurt

Mumbai: Equity benchmark Sensex stretched its winning run to the fourth straight session on Wednesday to reclaim the 60,000-level as robust gains in banking and financial stocks offset profit-booking in the IT pack.

Investors have become richer by over Rs 9.30 lakh crore in four days of market rally.

Overcoming a wobbly start, the 30-share BSE Sensex surged 367.22 points or 0.61 per cent to end at 60,223.15. The index last closed above the the key 60,000-mark on November 17, 2021. Similarly, the broader NSE Nifty climbed 120 points or 0.67 per cent to finish at 17,925.25.

Bajaj Finserv was the top gainer in the Sensex pack, spurting 5.09 per cent, followed by Bajaj Finance, Kotak Bank, Axis Bank, Tata Steel, HDFC Bank, Asian Paints, Maruti and ICICI Bank. On the other hand, Tech Mahindra, Infosys, HCL Tech, Wipro, PowerGrid and Dr Reddy's were among the major laggards, dropping as much as 2.87 per cent.

Sectorally, BSE bankex, finance, metal, oil and gas and realty climbed up to 2.43 per cent, while IT, teck, power, healthcare and consumer durables nursed losses. Broader markets were mixed, with the BSE midcap index advancing 0.36 per cent, while the smallcap gauge dipped 0.08 per cent.

The rupee surged 20 paise to close at 74.38 against the US currency, propped up by foreign banks' dollar sales and fund inflows into domestic

equities.