September 23, 2024
New Delhi, India
Market Highlights
Indian equity markets ended Monday on a positive note, with the Sensex gaining 384.30 points to close at 84,928.61 and the Nifty settling above 25,900 for the first time, finishing at 25,939.05, up 148.10 points. The rise was led by strong performances in the PSU Bank and Realty sectors.
Top Gainers and Losers
Among the top Nifty gainers were Bajaj Auto (+3.66%), Mahindra & Mahindra (M&M) (+3.26%), ONGC (+3.06%), Hero MotoCorp (+2.94%), and SBI Life Insurance (+2.66%). On the losing side, Eicher Motors (-1.64%), ICICI Bank (-1.23%), Divis Labs (-1.19%), Wipro (-1.13%), and IndusInd Bank (-1.01%) dragged the market.
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Sectoral Performances
Sector-wise, the PSU Bank index surged over 3%, driven by investor confidence, while the Realty index also posted a notable gain of more than 2%. Other sectors, including auto, energy, FMCG, metals, pharma, and media, saw gains ranging between 0.5% to 1%. However, the Information Technology index dipped by 0.5%, reflecting a minor pullback in tech stocks.
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Broader Market Movements
Midcap and smallcap indices also gained 0.7% each, contributing to the overall positive market sentiment. The recent Federal Reserve rate cut has boosted investor appetite for risk, with increased expectations for foreign inflows supporting market growth.
The Indian markets continued their upward trajectory on Monday, marking the third consecutive session of gains. The surge in the PSU Bank and Realty sectors, along with steady performances across various sectors, helped Nifty reach a new milestone, closing above 25,900. As investor sentiment remains positive, all eyes are on how global and domestic factors will shape market movements in the coming days.
Also Read: India’s Business Activity Growth Slows in September: HSBC Flash PMI Report
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