Indian Stock Markets Reach Record Highs Amid Positive Global Sentiment

Indian frontline indices soared to record highs on Thursday, bolstered by favorable global cues. As of 9:46 a.m., the Sensex was up 144 points, or 0.17%, reaching 85,314, while the Nifty gained 36 points, or 0.14%, to hit 26,040.

Both indices set new all-time highs earlier in the session, with the Sensex peaking at 85,372 and the Nifty at 26,056.

In the Sensex pack, top gainers included Maruti Suzuki, Wipro, Tata Motors, Nestle, HCL Tech, Tech Mahindra, Infosys, ITC, TCS, Bajaj Finserv, Hindustan Unilever, Bharti Airtel, Axis Bank, and SBI. Conversely, Power Grid, NTPC, Tata Steel, JSW Steel, Titan, Bajaj Finance, HDFC Bank, L&T, and Kotak Mahindra Bank were among the top losers.

Meanwhile, midcap and smallcap stocks experienced selling pressure, with the Nifty midcap 100 index down 375 points, or 0.62%, at 60,089, and the Nifty smallcap 100 index down 104 points, or 0.54%, at 19,252.

Also Read: Sensex Closes At All-Time High, Nifty Above 26,000 For First Time

Market experts suggest that while there are currently no immediate triggers to drive significant market fluctuations, potential gains may lead to selling by foreign institutional investors (FIIs). “FIIs are likely to shift some capital to China and Hong Kong, where markets are witnessing an uptrend and appear relatively cheap,” they noted. However, they also indicated that ample domestic liquidity should mitigate any significant downturn from FII selling.

A range-bound market is anticipated in the near term, with a focus on stock-specific movements.

Sector-wise, PSU banks, metals, real estate, energy, private banks, and infrastructure stocks were among the major losers, while sectors like auto, IT, pharmaceuticals, FMCG, services, and healthcare showed notable gains.

Asian markets reflected a bullish trend, with Tokyo, Hong Kong, Shanghai, Jakarta, and Seoul all trading in positive territory. In contrast, US markets closed mixed on Wednesday.

On September 25, FIIs continued their selling spree, offloading equities worth Rs 973 crore, while domestic institutional investors countered this trend with purchases amounting to Rs 1,778 crore on the same day.