Current state of the stock market: The local benchmark indexes had a historic session on Thursday, as the Sensex surged over 79,000 and the Nifty 50 touched 24,000 for the first time, setting new records for mid-day trading. The return of foreign institutional investors (FIIs) to the domestic market, increasing purchases of index heavyweights, and political equilibrium, were the primary factors driving the market’s growth.
The Nifty 50 closed at 24,036.85 level, up 168.05 points or 0.7%, while the 30-share BSE Sensex ended up by 568.93 points or 0.72% at 79,243.18 level.
Approximately 12:15 IST touched the 24,000 mark of the Nifty 50. Nifty 50, what was trading at around 23000 crossed the 24000 point in 23 trading sessions. At the same, the BSE’s Sensitive index crossed beyond the 79,000 mark touching an all-time high at 79,013.
Following its initial breach of the 53,000 barrier, the Nifty Bank index achieved a new high of 53,180 points. Over the last four trading days, the index has risen by 2.60%, mostly as a consequence of strong performance by private sector banks such as IndusInd Bank, HDFC Bank, ICICI Bank, Axis Bank, and Kotak Mahindra Bank. Nifty Bank, however, ended the day 0.11% down.
On the broader market front, the Nifty Midcap 100 ended up 0.32%, while Nifty Smallcap 100 closed 0.67% lower.
Top Nifty 50 Gainers and Losers
In the Nifty 50 index, up to 35 stocks concluded the day in the green, 15 in the red, and 0 unchanged.
The biggest gainers at the end of the day were shares of Grasim Industries Ltd (up 3.24%), NTPC Ltd (up 3.19%), Wipro Ltd (up 3.09%), LTIMindtree Ltd (up 3.58%), and UltraTech Cement (up 5.45%). Conversely, the stragglers were Divi’s Laboratories Ltd Ltd (down 0.49%), Larsen & Toubro Ltd (down 1.11%), Shriram Finance Ltd (down 0.97%), Eicher Motors Ltd (down 0.58%), and HDFC Bank Ltd (down 0.30%).
Sectoral indices today
Sectoral indexes at the NSE that were trading in the green included IT, Metals, Financial Services, Oil & Gas, FMCG, and Consumer Durables; those that were trading in the red included Banks, Media, Pharma, and PSU Banks. Real estate ended in a flat.
