Sensex, Nifty End Higher For 5th Consecutive Day

The equity markets gained for the fifth consecutive day as both Sensex and Nifty logged in fresh record highs in the intraday session on Wednesday, October 13. Market capitalisation of BSE-listed companies also hit a new high of Rs 2,70,24,154.49 crore during the opening deals today, backed by strong momentum in the past few sessions.

During the day's trade, the BSE Sensex made a lifetime high of 60,836.63, while the Nifty-50 made a new high of 18,197.80. At close, the Sensex was up 452.74 points at 60,737.05, and the Nifty-50 closed higher by 169.80 points at 18,161.75.

Shares of M&M jumped over five per cent in the day's trade and bagged the top position in the BSE index, while those of Power Grid Corp, ITC, Larsen, Tech Mahindra, and Tata Steel jumped 2-3 per cent each. Overall in the 30-share pack Sensex, 23 scrips saw buying interest and seven stocks ended in the red.

The broader markets also joined the rally as the BSE Midcap index closed higher 1.6 per cent, while the Smallcap index gained 0.6 per cent in the intraday session. Shares of Tata Power and Union Bank were the chart-toppers in the Midcap space as the stocks jumped over 14 per cent each, whereas Arvind and MEP Infra advanced 20 per cent in the Smallcap space.

Comparing the sectoral performance, barring the realty sector, all other sectors witnessed buying interest in the intraday session on Wednesday. The Automobile sector outperformed all other sectors as the Nifty Auto index jumped over three per cent led by shares of Tata Motors(+21.18 per cent), Ashok Leyland (+5.46 per cent), and M&M(+5.16 per cent). 

Shares of Tata Motors saw a massive jump after TPG Rose Climate and ADQ (Abu Dhabi) revealed plans to invest a sum of Rs 7,500 crore in the company's EV (electric vehicle) subsidiary. On the other hand, the IT, Metal and Energy indices also gained over a per cent each on Wednesday.

In the overall market breadth today, 934 shares advanced and 883 scrips declined in the NSE.

Ruchit Purohit

BW Reporters The author is a Trainee Journalist at BW Businessworld based in Mumbai. He tracks the Markets and related news.