Mumbai: Indian frontline indices closed at an all-time high on Monday, with heavyweights like M&M, SBI, Bharti Airtel, and Kotak Mahindra Bank among the top gainers in the BSE’s benchmark.
At closing, the Sensex was up 384 points, or 0.45 percent, at 84,928, and the Nifty was up 148 points, or 0.57 percent, 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, major gainers were Auto, PSU Bank, fin services, pharma, FMCG, metal, realty, energy and infra. Only the IT index closed in the red.
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M&M, SBI, Bharti Airtel, Kotak Mahindra Bank, HUL, UltraTech Cement, Tata Steel, HDFC Bank, NTPC, and Nestle were the top gainers in the Sensex pack. 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 green, 1,728 in red, and 120 closed without any change. At the end of the trading session, the BSE’s market cap 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 slightly recovered, and wholesale inflation data indicated moderation, which could influence market trends going forward,” Kasat added.
According to provisional figures, foreign institutional investors (FIIs)/foreign portfolio investors (FPIs) bought shares worth a net Rs 14,064.05 crore on 20 September 2024, and domestic institutional investors sold shares worth a net Rs 4,427.08 crore on the same day.
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–IANS
