September 26, 2024
New Delhi, India
Stock Market Highlights
Indian markets closed at record highs on Thursday, September 26, 2024, as Nifty 50 surged past 26,200 and Sensex rose by 666 points, led by gains in auto and metal stocks. The benchmark indices ended the day in positive territory, with both large-cap and mid-cap stocks contributing to the gains.
Market Recap:
- Nifty 50 surged 211.90 points or 0.81% to close at 26,216.05, hitting a record high for the second consecutive session.
- Sensex rose by 666.25 points or 0.78% to settle at 85,836.12.
- Nifty Bank climbed 273 points to 54,375, marking a record close after hitting an intraday high of 54,467.3.
- Nifty Auto led the charge with an all-time high, while the metal index jumped by 2%.
- Midcap and Smallcap indices ended mixed, with the BSE Midcap index flat and the Smallcap index down 0.4%.
Key Gainers:
- Maruti Suzuki, Tata Motors, Shriram Finance, Grasim Industries, and M&M were among the top performers on the Nifty.
- Shares of ITC surged, taking the company’s market capitalization past ₹6.5 lakh crore for the first time.
Key Losers:
- ONGC, Cipla, NTPC, Hero MotoCorp, and L&T closed in the red, despite the overall bullish market sentiment.
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Sectoral Performance:
- Auto and metal stocks were the stars of the day, both gaining 2%.
- FMCG and PSU Bank indices were up by 1% each.
- On the downside, the capital goods index slipped by 0.6%.
IPO Action:
The Diffusion Engineers IPO was fully subscribed on its Day 1 of the offering, reflecting strong investor interest.
Broader Market Overview:
While the Nifty Midcap and Smallcap indices underperformed the benchmark indices, broader market sentiment remained positive. Nifty Midcap closed marginally higher by 4 points, while Smallcap was down 0.3%.
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