New-highs Continue; Nifty Above 24,000 Level For The First Time
In the Nifty50 index, 37 stocks advance in the positive territory, while 23 stocks end in the red territory
The Indian stock market achieved another milestone in the Thursday trading session after the benchmark indices breached 24,000 levels for the first and closed at a new high. The rally majorly came by IT and Commodities stocks.
The National Stock Exchange (NSE) Nifty 50 index ended 0.74 per cent higher at 24,044 whereas the S&P Bombay Stock Exchange (BSE) Sensex settled 568 points or 0.72 per cent higher at 79,243 levels on the closing bell.
Nifty Moves
In the Nifty50 index, 37 stocks advanced in the positive territory, while 23 stocks ended in the red territory.
Ultratech Cement topped the index with more than 5 per cent gain after it acquired a 23 per cent stake in India Cements. LTI Mindtree and Grasim Industries also climbed 3.85 per cent and 3.34 per cent respectively. NTPC, Wipro also rallied more than 3 per cent.
In the laggard segment, Shriram Finance and Larsen & Toubro lost more than 1 per cent. Bajaj Auto, Eicher Motors and Divis Lab lost more than half a per cent.
Analyst Note
(This is a developing story please keep refreshing for the further updates)
Sectoral Movement
In terms of sectoral performance, the IT index soared more than 2 per cent, followed by 1.27 per cent gain in Nifty Energy. Metals and Auto gained 0.55 per cent and 0.69 per cent respectively, while FMCG ended with 0.36 per cent.
Conversely, Nifty Bank remained muted, whereas PSU Banks lost nearly 1 per cent. Pharma dipped 0.16 per cent, while Realty remained flat.
The more domestically focussed indices, Mid-cap gained 0.32 per cent, however Small cap shredded 0.67 per cent.
