India’s equity indices reached record highs on Wednesday, driven by positive cues from global markets. The Sensex closed up 255 points, or 0.30%, at 85,169, while the Nifty rose 63 points, or 0.25%, to finish at 26,004, marking the first time Nifty closed above the 26,000 mark.
Intraday, the Sensex and Nifty hit fresh highs of 85,247 and 26,032, respectively. Major gains were seen in sectors such as financial services, pharma, metals, real estate, and energy. However, selling pressure hit midcap and smallcap stocks, with the Nifty Midcap 100 index down by 0.63% and the Nifty Smallcap 100 index falling by 0.42%.
Stocks like Power Grid, Axis Bank, NTPC, and Bajaj Finserv led the gains, while Tech Mahindra, Tata Motors, and SBI were the top losers.
Rupak De, Senior Technical Analyst at LKP Securities, noted that the Nifty’s lifetime high reflects bullish momentum. He stated that as long as the index stays above 25,900, the sentiment will likely remain positive, with a resistance level around 26,200-26,250.
Foreign institutional investors sold equities worth Rs 2,784 crore on September 24, while domestic institutional investors continued buying, purchasing Rs 3,868 crore worth of equities.
Also Read: Indian Economy Set For 7.1% Growth In FY25, Moody’s Projects
Rohit Sharma wants to keep himself fit and productive until 2027 but says his immediate…
Meghalaya Police has deployed 1,500 personnel and prepared extensive security and traffic plans for Amit…
Indian cities are using AI, electric vehicles and digital systems to make sanitation services safer,…
The United States sanctioned Pakistani-linked entities over alleged support for Iran’s defence procurement and military…
A new report has raised concerns over China’s intellectual property approach, citing overseas disputes and…
Prime Minister Narendra Modi congratulated India’s medallists in squash, compound archery and sailing at the…