Nifty Closes At Record High As IT, Auto Stocks Lead Gains: Market Wrap

The benchmark stock indices recouped losses to end higher on Thursday as information technology and auto stocks led the gains.

The Nifty ended 162.40 points or 0.74% higher to a record closing high of 22,217.45 and the S&P BSE Sensex was 535.15 points or 0.74% up to settle at 73,158.24.

During the day, the Nifty declined as much as 0.82% to 21,875.25 and the Sensex fell 0.75% to 72,081.36. In the last leg of the trade, the Nifty surged 0.9% or 197.45 points to a record intraday high of 22,252.50.

ITC Ltd., Reliance Industries Ltd., Tata Consultancy Services Ltd., Infosys Ltd., and Larsen & Toubro Ltd. led the gains in the Nifty 50.

HDFC Bank Ltd., Kotak Mahindra Bank Ltd., State Bank of India, IndusInd Bank Ltd., and Hindustan Unilever Ltd. limited the gains in the benchmark index.

Ten out of the 12 sectors on the NSE ended in green. The Nifty Bank index fell the most among sectoral indices.

The broader markets rose in line with the benchmark indices, with BSE MidCap rising 0.92% and SmallCap gaining 0.54%.

Nineteen out of the 20 sectors on the BSE ended higher, with auto rising the most.

The market breadth was skewed in favour of the buyers as 2,101 stocks rose, 1,714 declined and 118 remained unchanged on the BSE.