New Delhi: The Indian stock market witnessed gains on Thursday, with the Sensex rising 110.87 points (0.13%) to close at 85,720.38, while the Nifty added 10.25 points to settle at 26,215.55. During the session, Sensex touched a new intraday high of 86,055.86, and Nifty breached its previous all-time high of 26,277 to reach 26,310.45. The Nifty Bank index also made a record high of 59,866.60, ending the day up 209.25 points (0.35%) at 59,737.30.
Sectoral Performance
While large-cap stocks saw mixed trends, mid-cap and small-cap indices displayed varied movements. The Nifty Midcap 100 rose 51 points to 61,113, whereas the Nifty Smallcap 100 declined 95 points (0.53%) to 17,876. On a sectoral basis, auto, PSU banks, metals, realty, energy, infrastructure, commodities, consumption, and public sector enterprises ended in green. Conversely, private banks, IT, financial services, pharma, FMCG, and services faced pressure.
Top Gainers and Losers
Major Sensex gainers included Bajaj Finance, ICICI Bank, Bajaj Finserv, HUL, HCL Tech, HDFC Bank, Infosys, L&T, ITC, Kotak Mahindra Bank, Titan, Sun Pharma, and NTPC.
Key losers were Maruti Suzuki, Zomato (Eternal), Ultratech Cement, SBI, Tata Steel, TCS, Tech Mahindra, Trent, Bharti Airtel, Power Grid, BEL, Axis Bank, and M&M.
Reason Behind the Rally
Market experts noted a volatile session. Although Sensex and Nifty touched new highs, they could not sustain them. Investors are now eyeing Q2 GDP data, which is scheduled to be released on Friday. Strong GDP growth could provide a significant boost to market sentiment.
Stocks Showing Strong Buying Interest
Investors are displaying increased buying interest in Ashok Leyland, Saregama India, Reliance Infrastructure, Gujarat Mineral Development, Tejas Networks, Escorts Kubota, and Tata Teleservices. Over 120 stocks have breached their 52-week highs, signaling strong bullish momentum.
Stocks Showing Weakness
Conversely, shares showing early signs of decline include Whirlpool India, Advent Hotels International, Natco Pharma, Bajaj Holdings, Radico Khaitan, Kaynes Technology, and Motilal Oswal, indicating a potential slowdown in these scrips.