Closing market podcast for June 6, 2017

A strong rally in banks, metals, auto and IT names helped the market soar big on Thursday, with the Nifty reclaiming 10,800 during the session. However, the last hour saw some profit booking as indices closed lower than the day’s high points. The 50-share index closed above 10,750.

The Sensex rose over 400 points intraday, while the Nifty too surged over 100 points, largely led by a rally in banks, auto, IT as well as metal names. The market could have possibly reacted to the repo rate hike announced by the Reserve Bank of India (RBI)

All sectoral indices ended in the green, with strong uptick in segments such as banks, energy, IT, and metals. In the broader markets space, midcaps continued the relief rally and ended over 1.5 percent higher.

The Sensex ended higher by 284.20 points at 35463.08, while the Nifty was up 83.70 points at 10768.40. All the sectoral indices ended in positive territory with a gain of 0.5-1.5 percent gain.

Tata Steel, Tata Motors, ICICI Bank, Axis Bank, Wipro, Indiabulls housing and Asian Paints are the top gained in the indices.