Sensex, Nifty End At Record Closing Highs After One-Day Blip: Market Wrap
The NSE Nifty 50 ended 470.45 points or 1.89% higher at 25,388.90, while the S&P BSE Sensex was 1,439.55 points or 1.77% higher at 82,962.71, recording new highs.
India's benchmark equity indices ended at fresh closing highs on Thursday as markets rose sharply in the last hour of trade, led by rallies in metal, auto, and banking stocks.
The NSE Nifty 50 ended 470.45 points or 1.89% higher at 25,388.90, while the S&P BSE Sensex closed 1,439.55 points or 1.77% higher at 82,962.71, recording new highs.
"Due to a lack of fresh triggers, the index oscillated in a thin range till the afternoon session, but the second half of the trading session was dominated by bulls as a sharp rally was seen across the board, which helped the index register a new high of 25,433.35," Aditya Gaggar, director of Progressive Shares, said.
"All sectors advanced, with metal and auto being the top performers. Mid and smallcaps also soared higher but underperformed the frontline index," Gaggar said.
On the daily chart, Index has made a strong bullish candle, which defines the tight grip of bulls, and now the next hurdle is placed at 25,670, while on the downside, 25,250 will be considered as support, he added.
All the sectoral indices on the NSE advanced, with Metal and Auto rising the most.
Shares of Reliance Industries Ltd., HDFC Bank Ltd., and Bharti Airtel Ltd. led the gains in the Nifty.
Nestle India was the only stock among the 50 constituents of Nifty that ended in the red.
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On BSE, 20 sectors advanced with the BSE Metal emerging as the top performing sector with over 3% gain. The BSE Realty had the least gain on Thursday.
Broader markets underperformed benchmark indices. The BSE Midcap and Smallcap indices ended 1.32% and 0.79% higher.
Market breadth was skewed in favour of buyers. Around 2,346 stocks advanced, 1,609 stocks declined, and 114 stocks remained unchanged on BSE.
