Stock Market Today: Nifty Records Best Winning Streak In Three Months As ICICI Bank, Airtel Lead Gains

• Rupee weakened by 2 paise to close at 83.95 against the US dollar.

• It closed at 83.93 on Wednesday.

Source: Bloomberg

Benchmark equity indices pared some of their morning gains but still managed to close higher with the Nifty 50 recording their best streak since six sessions that ended on May 23.

The Nifty ended at 0.16% or 40 points higher at 24810.20 and the Sensex closed 0.18% or 147.89 points up at 81053.19. Both the indices recorded their highest closing since August 1.

"The Index has virtually touched the target of 24,870 (Today's high- 24,867.35)," according to Aditya Gaggar, director of Progressive Shares. "The range of 24,850-,25,000 is a bearish gap zone, and considering a one-way rally from the past 5 sessions, a pullback can be anticipated where the Index will find support at 24,720."

Shares of ICICI Bank Ltd., Bharti Airtel Ltd., HDFC Bank Ltd., Grasim Industries Ltd., and Infosys Ltd. contributed the most to Nifty's gains. While those of Tata Consultancy Services Ltd., Mahindra & Mahindra Ltd., Tata Motors Ltd., NTPC Ltd., and Oil & Natural Gas Corp. Ltd. weighed on it.

Sectoral indices ended mixed. Nifty Energy was the top loser and Nifty PSU Bank rose the most.

Market breadth was skewed in favour of buyers. Around 2,462 stocks rose, 1,501 stocks declined, and 90 stocks remained unchanged on BSE.

Broader markets outperformed benchmark indices. The BSE Midcap and Smallcap indices ended 0.67% and 0.47% higher, respectively.

On BSE, 15 sectoral indices advanced and five declined out of 20. The BSE Telecommunication ended with the most gains compared to peers. The BSE Utilities was the worst performing sector.

• Nifty ends higher in the sixth consecutive session recording its best streak in three months

• Sensex ends higher for third consecutive session

• Both the indices closed at their highest levels since August 1

• Nifty ends 0.16% or 40 points higher at 24810.20

• Sensex ends 0.18% or 147.89 points higher at 81053.19

• Broader indices also ended higher; Nifty Midcap 100 ended 0.69% up and Nifty Smallcap 250 rose 0.32%

• Sectoral indices ended mixed; Nifty Energy was the top loser and Nifty PSU Bank rose the most

• Grasim and Tata Consumer were top Nifty gainers

• M&M and NTPC were top losers among Nifty stocks

• Indian economy sustained its momentum in first 4 months of FY25

• Higher GST collection expected in coming months

• Seeing robust performance in the services sector

• Measures announced in Union Budget will give a big boost to MSMEs, services and manufacturing sectors

• Stock market witnessed another bullish run; Nifty & Sensex soared to new heights

• Consumer confidence has declined in the current economic situation

• There is evidence of trend reversal in external sector in FY25

• Steady progress of monsoon will further aid in reducing food inflation in coming months

• RBI surveys paint sobering picture of urban consumers’ perception of employment conditions

• RBI surveys paint sobering picture of manufacturers’ hiring sentiments

  Source: DEA