Indian equity indices including sensex reached a new milestone on Monday, closing at record highs amid positive market sentiment.
The Sensex gained 194 points, or 0.24%, to close at 82,559, while the Nifty rose 42 points, or 0.17%, ending at 25,278. During the trading session, both indices hit all-time highs, with the Sensex reaching 82,725 and the Nifty touching 25,333.
Mixed Market Performance
Despite the record highs, the broader market trend was negative. On the Bombay Stock Exchange (BSE), 1,782 shares closed in the green, while 2,256 ended in the red, and 149 remained unchanged.
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Top Gainers and Losers
Key gainers in the Sensex pack included Bajaj Finserv, Bajaj Finance, HCL Tech, IndusInd Bank, ITC, UltraTech Cement, Axis Bank, Infosys, Asian Paints, SBI, Titan, and Tech Mahindra. However, Tata Motors, NTPC, M&M, Wipro, Bharti Airtel, L&T, Power Grid, and TCS emerged as the top losers.
Sectoral Insights
IT, PSU banks, financial services, FMCGs, and private banks were the major gainers. In contrast, sectors such as auto, pharma, metal, realty, media, and infra lagged behind.
Midcap and Smallcap Performance
Midcap and smallcap stocks saw selling pressure. The Nifty Midcap 100 index closed at 59,152, down 134 points, or 0.23%. The Nifty Smallcap 100 index ended at 19,244, losing 62 points, or 0.33%.
Investor Activity and Sentiment
Foreign Institutional Investors (FIIs) continued their buying spree, purchasing equities worth Rs 5,316 crore on August 30. In contrast, domestic institutional investors sold equities worth Rs 3,198 crore on the same day.
INDIAVIX, the volatility index, rose 5% on Monday to 14.06.
Expert Opinion
Market experts noted that the market is in a phase of steady but mild upward movement, driven by the accumulation of quality large-cap stocks. FIIs turning buyers last week, mainly due to large bulk deals, also boosted market sentiment. They added, “If the market closes positive today, it will mark a record 13-day winning streak for the Nifty, further strengthening positive sentiment.”