Indian equity indices soared to unprecedented levels on Thursday, driven by a robust performance in the auto and IT sectors, as both the Sensex and Nifty hit new all-time highs.
During the trading session, the Sensex peaked at 82,285, while the Nifty touched 25,192.
By market close, the Sensex stood at 82,134, up 349 points or 0.43%, and the Nifty ended at 25,151, marking a gain of 99 points or 0.40%.
Despite the overall rally, midcap and smallcap stocks lagged behind their large-cap counterparts.
The Nifty Midcap 100 index fell to 58,883, down 262 points or 0.44%, and the Nifty Smallcap 100 index closed at 19,214, a decline of 105 points or 0.54%.
Notable gainers in the Sensex pack included Tata Motors, Bajaj Finance, Bajaj Finserv, HCL Tech, ITC, Reliance, Tata Mahindra, Maruti Suzuki, Wipro, SBI, Bharti Airtel, and Hindustan Unilever. On the downside, M&M, Sun Pharma, JSW Steel, Kotak Mahindra, Tata Steel, Infosys, UltraTech Cement, and ICICI Bank were among the laggards.
Shares of recently listed OLA Electric experienced a turbulent day, ending at Rs 120.28, down 4.30%.
Sector-wise, the NSE indices showed significant contributions from Auto, IT, PSU Bank, financial services, FMCG, and energy sectors. Conversely, sectors such as pharma, metal, media, and real estate faced declines.
Market analysts noted that the Indian equity markets began the day with steady gains and reached record highs.
However, volatility increased in the afternoon due to anticipation surrounding Reliance Ltd’s annual general meeting.
Despite this, the market rally continued, buoyed by improved sentiment and gains in Indian IT and FMCG stocks.
Experts suggest that this uptick reflects positive expectations for a potential soft landing for the US economy and enhanced domestic rural consumption.
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