Sensex, Nifty soar to record highs: Maruti Suzuki, Wipro lead gains!
Mumbai: Indian stock indices reached record levels on Thursday, driven by encouraging international trends. By 9:46 am., the Sensex had risen by 144 points, or 0.17 percent, to reach 85,314, while the Nifty was up 36 points, or 0.14 percent, at 26,040.
In early trading, both indices achieved new all-time highs, with the Sensex hitting 85,372 and the Nifty reaching 26,056.
Among the top gainers in the Sensex, companies like Maruti Suzuki, Wipro, Tata Motors, Nestle, HCL Tech, Tech Mahindra, Infosys, ITC, TCS, Bajaj Finserv, HUL, Bharti Airtel, Axis Bank, and SBI saw significant increases. However, Power Grid, NTPC, Tata Steel, JSW Steel, Titan, Bajaj Finance, HDFC Bank, L&T, and Kotak Mahindra Bank experienced losses.
Midcap and small-cap stocks faced selling pressure, with the Nifty midcap 100 index down by 375 points, or 0.62 percent, at 60,089, and the Nifty smallcap 100 index down by 104 points, or 0.54 percent, at 19,252.
According to market experts, "There are no immediate near-term triggers that can take the market sharply up or down. Up moves may attract selling by FIIs who are likely to move some more money to China and Hong Kong since these markets are cheap and are witnessing an uptrend now. But FII selling is unlikely to push the market down significantly since the ample domestic liquidity can easily absorb such selling."
"A range-bound market is a near-term scenario and, therefore, the real action will be stock-specific," they added.
In terms of sectors, PSU banks, metals, real estate, energy, private banks, and infrastructure were among the main losers, while the auto, IT, pharma, FMCG, services, and healthcare sectors showed gains.
Asian markets are also reflecting a positive trend, with Tokyo, Hong Kong, Shanghai, Jakarta, and Seoul all trading higher. In the US, markets closed mixed on Wednesday.
Foreign institutional investors (FIIs) continued to sell, offloading equities worth Rs 973 crore on September 25. In contrast, domestic institutional investors (DIIs) maintained their buying momentum, purchasing equities worth Rs 1,778 crore on the same day.
Agency