Mumbai: The Indian equity indices closed at an all-time high on Thursday, boosted by a robust rise in auto and IT stocks.
During the trading session, the Sensex and Nifty soared to unprecedented heights, setting new records at 82,285 and 25,192, respectively.
At closing, the Sensex was up 349 points, or 0.43 percent, at 82,134, and the Nifty was up 99 points, or 0.40 percent, at 25,151.
Selling was seen in the midcap and smallcap stocks compared to largecaps.
The Nifty Midcap 100 index closed at 58,883, down 262 points or 0.44 per cent, and the Nifty Smallcap 100 index closed at 19,214, down 105 points or 0.54 per cent.
The top gainers, including Tata Motors, Bajaj Finance, and HCL Tech, showcased a strong performance, instilling optimism and confidence among investors. On the other hand, the top losers were M&M, Sun Pharma, JSW Steel, Kotak Mahindra, Tata Steel, Infosys, UltraTech Cement, and ICICI Bank.
The recently listed OLA electric shares experienced a rough ride, closing at Rs 120.28, down 4.30 percent.
In the NSE indices, the Auto, IT, PSU Bank, fin service, FMCG, and energy sectors made significant contributions, while the pharma, metal, media, and realty sectors experienced the most significant declines.
Market experts noted that Indian equities started the day on a strong note, reaching a record high. Despite some volatility in the afternoon due to expectations from Reliance Ltd AGM, the market sentiment improved rapidly, leading to a new high by the end of the day. They also pointed out that the recent surge in Indian IT and FMCG stocks suggests a potential soft landing for the US economy and an uptick in domestic rural consumption.
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–IANS
