Mumbai, Sep 23: Indian frontline indices closed at an all-time high on Monday with heavyweights like M&M, SBI, Bharti Airtel, and Kotak Mahindra Bank top gainers in the BSE’s benchmark.
At closing, Sensex was up 384 points, or 0.45 per cent, at 84,928 and Nifty was up 148 points, or 0.57 per cent, at 25,939.
Large buying was seen in the midcap and smallcap stock compared to largecap.
The Nifty Midcap 100 index closed at 60,712, up 503 points, or 0.84 per cent, and the Nifty Smallcap 100 index closed at 19,548, up 216 points or 1.12 per cent.
Among the sectoral indices, Auto, PSU Bank, fin services, pharma, FMCG, metal, realty, energy and infra were major gainers. Only the IT index closed in the red.
In the Sensex pack, M&M, SBI, Bharti Airtel, Kotak Mahindra Bank, HUL, UltraTech Cement, Tata Steel, HDFC Bank, NTPC, and Nestle were the top gainers. ICICI Bank, IndusInd Bank, Asian Paints, Tech Mahindra, Wipro, HCL Tech, Infosys, TCS, L&T, Sun Pharma, and Power Grid were the top losers.
On the Bombay Stock Exchange (BSE), 2,385 shares closed in the green, 1,728 shares in the red, and 120 shares closed without any change. At the end of the trading session, the market cap of BSE had increased to Rs 476 lakh crore.
Vikram Kasat, Head – Advisory, PL Capital – Prabhudas Lilladher said: “The Indian markets continued their uptrend following the US Federal Reserve’s recent decision to cut interest rates by 50 basis points, boosting global sentiment and pushing the Nifty index to a new record high above 25,900. While some profit-booking occurred in sectors like IT, these corrections were expected after their earlier rally.”
“Foreign institutional investors (FIIs) maintained long positions in the index, further supporting the rally. Meanwhile, oil prices showed a slight recovery, and wholesale inflation data indicated moderation, which could influence market trends going forward,” Kasat added.
As per provisional figures, Foreign Institutional Investors (FIIs)/Foreign Portfolio Investors (FPIs) bought shares worth a net Rs 14,064.05 crore and domestic institutional investors sold shares worth a net Rs 4,427.08 crore on 20th September 2024.
–IANS
