October 28, 2024
New Delhi, India
Market Summary
The Indian stock market made a strong comeback on October 28, 2024, breaking a five-day losing streak. Both the BSE Sensex and NSE Nifty 50 closed the week’s first trading session with significant gains, mirroring positive sentiment across Asian markets.
Key Market Movements
Index Performance
- Sensex: Closed 603 points higher, a 0.76% gain, ending at 80,005.04.
- Nifty 50: Rose 158.35 points or 0.65%, closing at 24339.15.
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Sectoral Highlights
- PSU Banks: The PSU Bank index rose 3.78%, marking the highest sectoral gain for the day.
- Metal Index: Added 2% as demand recovery continued in the sector.
- Other Sectors: Pharma, media, and realty indices each closed over 1% higher, while banking stocks led gains overall.
Midcap and Smallcap Performance
- Nifty Midcap 100: Gained 0.83%, showing resilience across mid-sized companies.
- Nifty Smallcap 100: Outperformed with a 1.20% increase, reflecting a strong day for smaller companies.
Stock Highlights
Top Gainers
- Shriram Finance: Jumped over 5%, buoying the Nifty 50 index.
- Adani Enterprises: Continued its upward trend, closing with strong gains.
- ICICI Bank and Eicher Motors: Each registered impressive rises, reflecting investor confidence in the financial and auto sectors.
Top Losers
- Coal India and Bajaj Auto: Each faced declines, with Coal India seeing losses up to 3.76%.
- Other Laggards: Axis Bank and Hero MotoCorp ended in red, facing minor declines amid sectoral gains.
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