Stock Market Today: Nifty, Sensex Extend Record Rally To Sixth Day Led By M&M, Maruti Suzuki
The Nifty posted highest closing level for five days in a row. The Nifty 50 rose 0.95% to a record high of 26,250.90, and the Sensex rose 0.89% to a fresh high of 85,167.56.
(Bull Statue At The BSE. Source: NDTV Profit)
KEY HIGHLIGHTS
US Markets: S&P 500 & Down Jones Futures Rise In Pre-Market
The Dow Jones December Future was trading 0.47% higher at 42,474.00 as of 3:43 p.m. Eastern Time Zone. The S&P 500 December Future was trading 0.77% higher at 5,823.25 as of 3:45 p.m.
The Nadaq 100 December Future was trading 1.37% higher at 20,468.50 as of 3:46 p.m.
The futures levels implied the US stocks may seen gains in Thursday's trading session.
Economic Data Releases & Events On Sept 26
US FOMC Members Speak: Chair Jerome Powell Boston Federal Reserve President Susan Collins, Federal Reserve Governors Adriana Kugler and Michelle Bowman, Michael Barr, and Lisa Cook
US Treasury Secretary Janet Yellen speaks
US Second Quarter Final GDP Estimate
US Weekly Jobless Claims
US Pending Home sales data
US Energy Information Administration Natural Gas storage report
European Central Bank President Christine Lagarde Speak
Rupee Weakens Against US Dollar
Rupee weakened by 4 paise to close at 83.64 against the US dollar. It closed at 83.60 on Wednesday, according to data on Bloomberg
Nifty Posts Record Closing High For Fifth Session; M&M, Maruti Suzuki Rise: Market Wrap
The NSE Nifty 50 and BSE Sensex extended their record run to sixth session on Thursday led by gains in Maruti Suzuki India Ltd. and Mahindra & Mahindra Ltd. The benchmarks have been touching fresh highs since Sept 19 and robbed the charm of new highs from the market participants.
The Nifty 50 ended 211.90 points or 0.81% higher at 26,216.05, and the Sensex ended 666.25 points or 0.78% higher at 85,836.12.
In Thursday's session, the Nifty 50 rose 0.95% to a record high of 26,250.90, and the Sensex rose 0.89% to a fresh high of 85,167.56. The Nifty 50 index settled at highest closing level for fifth straight session.
The Nifty Bank rose as much as 0.68% to a high of 54,467.35 as State Bank of India, HDFC Bank Ltd. led. The index ended 0.33% higher at 54,281.50, marking the highest close.
"Technically, after a muted opening market successfully cleared 26,000/85,300 mark and post breakout positive momentum intensified," said Shrikant Chouhan, head, equity research, Kotak Securities.
A bullish candle on daily charts and breakout continuation formation on intraday charts indicating further uptrend from the current levels. We are of the view that, as long as market is trading above 26,000/85,300 the bullish setup is likely to continue. On the higher side, it could move up till 26,300-26,375/86,000-86,300. On the other side, below 26,000/85,300 uptrend would be vulnerable. Below the same, traders may prefer to exit out from the trading long positions, Chouhan said.
Maruti Suzuki India Ltd., Mahindra & Mahindra Ltd., Reliance Industries Ltd., Tata Motors Ltd., and ITC Ltd. added to the index.
Larsen & Toubro Ltd., Oil and Natural Gas Corp, Cipla Ltd., NTPC Ltd., and HDFC Bank Ltd. weighed on the index.
On NSE 11 sectors ended higher and one ended with little change out of 12. The NSE Nifty Auto emerged as the top sector with over 2% gain after hitting fresh high.
The NSE Nifty Auto rose 2.37% to a fresh high of 27,526.35. Mahindra & Mahindra Ltd. and Maruti Suzuki India Ltd. were top leaders. It settled 2.03% higher at 27,434.85.
The NSE Nifty Financial Services Ltd. rose 0.86% to a new high of 25,201.95. Bajaj Finance Ltd., and HDFC Bank Ltd. were the top contributors. The index ended 0.46% higher at 25,103.85.
Broader markets underperformed benchmark indices. The BSE Midcap settled 0.01% lower, and the BSE Smallcap ended 0.39% lower.
On BSE, 13 sectors advanced and seven declined out of 20. The BSE Auto rose the most, and the BSE Consumer Durables declined the most.
Market breadth was skewed in favour of sellers. Around 2,273 stocks declined, 1,703 stocks rose, and 105 stocks remained unchanged on BSE.
Market At Close
The NSE Nifty 50 and BSE Sensex scaled fresh highs for sixth consecutive session.
The Nifty posted highest closing level for five days in a row. The Nifty 50 rose 0.95% to a record high of 26,250.90, and the Sensex rose 0.89% to a fresh high of 85,167.56.
The NSE Nifty Auto was the top gainers among sectoral indices, and the NSE Nifty Pharma was the top loser.
The NSE Nifty Auto rose 2.37% to a fresh high of 27,526.35. Mahindra & Mahindra Ltd. and Maruti Suzuki India Ltd. were top leaders. It settled 2.03% higher at 27,434.85.
The NSE Nifty Financial Services Ltd. rose 0.86% to a new high of 25,201.95. Bajaj Finance Ltd., and HDFC Bank Ltd. were the top contributors. The index ended 0.46% higher at 25,103.85.
The Nifty Bank rose as much as 0.68% to a high of 54,467.35 as State Bank of India, HDFC Bank Ltd. led. The index ended 0.33% higher at 54,281.50, marking the highest close.
The NSE Nifty Midcap 150 ended 0.06% higher at 22,369.90, and the NSE Nifty Smallcap 250 ended 0.52% lower at 19,257.45.
