Stock Market Today
On Thursday, the Sensex set different benchmarks in the stock market, with the Nifty 50 crossing the 24,000 level and the Sensex crossing the 79,000 level. However, there were two instances today when the Sensex level fluctuated.
Market analysts said that the main reason for the market’s growth is the return of foreign institutional investors (FIIs) to the domestic market, increasing buying in index giants and political balance.
The Sensex closed at 79,243 levels in the market with a gain of 568.93 points or 0.72 per cent before the market closed. Whereas, Nifty 50 also closed at 24,036.85 levels, along with gaining 0.7 per cent or 168.05 in the market.
At 12:15 pm, Nifty 50 had touched the level of 24000. However, it took 23 sessions for Nifty 50 to reach the level of 24,000 from 23,000. Meanwhile, the Sensex crossed 79,000 points for the first time and reached a new high of 79,013 points.
ALSO CHECK: Stock Market Record: Sensex crosses 78000 points for the first time, Nifty also at record high
These stocks blew away the market
UltraTech Cement, Grasim Industries, Reliance Industries, ICICI Bank, Axis Bank made new gains in the 52nd week. Cement stocks continue to dominate the market and with this UltraTech’s shares rose by 4.3 percent, on the other hand Grasim Industries’ shares gained 2.6 percent.
After crossing the 53,000 level for the first time, the Nifty Bank index made a new record of 53,180 points. It has gained 2.60 percent in the last four trading sessions, mainly due to the impressive quarterly results of private sector banks including IndusInd Bank, HDFC Bank, ICICI Bank, Axis Bank and Kotak Mahindra Bank. However, Nifty Bank closed down by 0.11 percent.
Know the status of Nifty 50 stocks
35 stocks of Nifty 50 were trading near the green line, while 15 stocks were on the red line and suffered huge losses. Among them, UltraTech Cement gained 5.45%, LTI Mindtree Ltd. (up 3.58%), Grasim Industries Ltd. (up 3.24%), NTPC Ltd. (up 3.19%) and Wipro Ltd. (up 3.09%) ended as the top gainers. On the other hand, Larsen & Toubro Ltd. (down 1.11%), Shriram Finance Ltd. (down 0.97%), Eicher Motors Ltd. (down 0.58%), Divi’s Laboratories Ltd. (down 0.49%), and HDFC Bank Ltd. (down 0.30%) were among the laggards.