Stock Market Today: Nifty Ends Above 25,000 For The First Time As Heavyweights Lead Gains

-The local currency closed flat at 83.72 against the US dollar.

-Rupee hit a record low of 83.756 during the day.

-It closed at 83.73 on Wednesday.

Source: Bloomberg

Benchmark equity indices continued their record run in fourth consecutive session with the Nifty crossing its psychologically crucial 25,000-mark for the first time.

The market sentiment was boosted as US Federal Reserve Chair Jerome Powell hinted towards a rate cut in September given the inflation cools.

Sensex closed 0.15% or 126.21 points higher to end at 81867.55 and Nifty added 59.75 points or 0.24% to end at 25010.90.

Intraday, both the indices gained as much as 0.5%. Nifty hit an intraday high of 25,078.30 and Sensex hit an intraday high of 82,129.49.

"Reaching the 25,000 mark is a significant milestone for Nifty, reflecting robust economic growth and positive investor sentiment," said Robin Arya, smallcase manager and founder at GoalFi.

 "However, we remain cautiously bullish as sectors like financial services and IT in the Nifty50 might need more time to reach new highs to further push up the Nifty, and some consolidation is expected at the index level."

"The Index has formed a spinning top candlestick pattern which represents indecisiveness where the downside seems to be protected at 24,930 while the immediate resistance is placed at 25,100," said Aditya Gaggar Director of Progressive Shares.

Shares of HDFC Bank Ltd., Reliance Industries Ltd., Power Grid Corp. Ltd., Coal India Ltd., and NTPC Ltd. contributed the most to the gains.

While those of Mahindra & Mahindra Ltd., Infosys Ltd., Larsen & Toubro Ltd., ICICI Bank Ltd., and State Bank Of India dragged the index.

Sectoral indices ended on a mixed note. Nifty Energy rose the most

Market breadth was skewed in favour of sellers. Around 2,367 stocks declined, 1,586 stocks rose, and 95 stocks remained unchanged on BSE.

Broader markets underperformed benchmark indices. The S&P BSE Midcap and Smallcap indices were trading 0.80% and 0.70% lower, respectively.

On BSE, 13 sectors advanced, seven declined out of 20. The S&P BSE Utilities rose the most, and the S&P BSE Realty declined the most.

• Nifty records highest close in the fifth consecutive session

• Nifty hit intraday high of 25,078.30

• Sensex hit intraday high of 82,129.49

• Broader indices end lower; Nifty Midcap 100 ended 0.84% lower and Nifty Smallcap 250 ended 0.58% down

• Most sectoral indices ended lower; Nifty Energy was the top gainer and Nifty Media fell the most

• Sensex rises 126.21 points to end at 81867.55 Nifty rises 59.75 points to end at 25010.90

• PowerGrid and Coal India were top Nifty gainers; M&M and Hero MotoCorp were top losers

• Net profit up 45% at Rs 253 crore vs Rs 175 crore

• Revenue up 18% at Rs 4,206 crore vs Rs 3,562 crore

• EBITDA at Rs 177 crore vs Rs 86 crore

• EBITDA margin at 4.2% vs 2.4%

• Revenue up12.5% at Rs 25,472 crore vs Rs 22,644 crore

• EBITDA up 36.9% at Rs 3,768 crore vs Rs 2,753 crore

• Margin at 14.8% vs 12.2%

• Net profit up 161.7% at Rs 1,772 crore vs Rs 677 crore

• Board approves demerger of FMCG and Food business

• Food and FMCG business to be listed on BSE & NSE