The National Stock Exchange of India witnessed a remarkable session as both the S&P BSE SENSEX and NIFTY50 index surged, reaching a seven-month high. The SENSEX soared by 1,200.18 points to close at 82,530.74, while the NIFTY50 settled at 25,062.10, up 395.20 points. This surge marked the NIFTY50 index’s highest level in seven months, touching 25,080 for the first time since October 16.
Foreign institutional investors bought equities worth ₹931.80 crore, underlining the positive sentiment. Additionally, the global oil benchmark Brent crude declined by 3.65% to $63.68 per barrel, impacting market dynamics.
The market capitalization of NSE-listed firms surged by ₹5.31 lakh crore, reaching ₹438.01 lakh crore, while BSE-listed firms saw a similar increase, reaching ₹439.94 lakh crore. The India VIX, a measure of market volatility, climbed by 10.21% to 21.01 levels.
Notable sectoral indices like NIFTY Realty, NIFTY Auto, and NIFTY Metal posted substantial gains, contributing to the overall positive market sentiment. Hero MotoCorp, JSW Steel, Tata Motors, and Trent were among the top gainers, while IndusInd Bank was the sole stock on the NIFTY50 index to end in the red.
Tube Investment reported a significant increase in net profit, while HDFC Bank shares surged by over 1.1% near market close. Hyundai Motor India’s upcoming Q4 results generated anticipation, with experts attributing the positive market sentiment to optimism surrounding the company’s earnings.
Other companies like GMDC, BLS E-Services, and Kalpataru Projects International also reported positive results, further bolstering market performance. Cochin Shipyard, Muthoot Finance, and Wendt India were among the top-performing stocks, showcasing resilience and growth.
Reliance Industries secured a substantial dual-currency loan, marking a significant financial milestone. The market also reacted to the earnings reports of companies like Eicher Motors, Tata Power, and Jubilant FoodWorks, with varying degrees of growth and performance.
Market experts highlighted the broader market trends, with the NIFTY Smallcap 100 index rising by 0.5% and the NIFTY Midcap 100 index also posting gains. The NIFTY Bank index staged a recovery, with HDFC Bank and ICICI Bank leading the rebound.
Furthermore, the announcement of an India-UK free trade agreement and the impact of geopolitical tensions on defense stocks like Solar Industries added to the market dynamics. Analysts emphasized the importance of understanding market risks and making informed investment decisions.
As the market closed, the focus turned to companies like Gensol Engineering, Cochin Shipyard, Tata Power, and Eicher Motors, which were set to announce their earnings, shaping the market sentiment for the upcoming sessions.
Overall, the day’s trading session reflected a mix of positive market performance, sectoral growth, and individual company results, underscoring the dynamic and evolving nature of the National Stock Exchange of India.
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