Indian markets notch fresh record highs

25 Apr 2024 , 03:44 PM

Indian benchmark indices extended their winning streak for the fifth consecutive session on Thursday, buoyed by a wave of positive earnings releases from companies. Despite subdued sentiment prevailing in Asian and global markets, the domestic indices showcased resilience.

The Sensex, which commenced the day on a lower note at 73,572.34, struggled initially, dipping to a low of 73,556.15. However, a string of upbeat Q4 earnings propelled the benchmark index to scale new heights, touching a record peak of 74,571.25.

By the closing bell, the Sensex surged by 486.50 points, or 0.66%, to settle at 74,339.44.

Similarly, the Nifty 50, opening lower at 22,316.90, witnessed intraday highs, touching 22,625.95. Ultimately, it closed with a gain of 167.95 points, or 0.75%, at 22,570.35.

Among the 30 stocks constituting the Sensex, seven ended the day in negative territory. Notably, Kotak Mahindra Bank, Hindustan Unilever, Titan, Bajaj Finance, and Maruti Suzuki India weighed on the index, while Axis Bank, SBI, JSW Steel, Nestle India, and Sun Pharma emerged as the top gainers.

Similarly, within the Nifty 50 universe, 10 stocks concluded the day in the red. Leading the declines were Kotak Mahindra Bank, LTI Mindtree, Hindustan Unilever, Titan, and SBI Life, while Axis Bank, SBI, Dr Reddy’s, Nestle India, and Hero MotoCorp emerged as the top performers.

The broader market mirrored the positive sentiment, with the BSE SmallCap index advancing by 0.54% and the BSE MidCap index by 0.71%.

Sector-wise, except for Consumer Durables and Realty, which experienced marginal declines of 0.43% and 0.25% respectively, all other sectoral indices ended the day in positive territory.

The PSU Bank index led the gains, surging by 3.77% at the close, followed by the Pharma, Healthcare, and Auto indices, which rose by 1.57%, 1.38%, and 1.27% respectively.

Moreover, the Bank and Financial Services indices recorded gains of 0.63% and 0.48% respectively, while the FMCG and IT indices closed higher by 0.67% and 0.33% respectively.