Market Soars: Sensex Skyrockets 400pts, Nifty Breaks 24,900 – Financials & FMCG Spark Triumph
Indian Market Closes Higher Despite Global Weakness
Market Close Highlights, Monday, September 9, 2024: Indian equity benchmark indices, BSE Sensex and Nifty 50, closed Monday’s trading session on a positive note. This rise came amidst turbulent Asian markets, which were affected by last week’s sell-off in US stocks.
Despite opening lower at 80,973.75, the BSE Sensex rallied throughout the day, peaking at 81,653.36 before settling 375 points higher, or 0.46% up, at 81,560. The Nifty 50 also mirrored this trajectory, opening at 24,823.40, reaching a high of 24,957.50, and closing up by 84 points, or 0.34%, at 24,936.
In the domestic market, Nifty 50 saw 26 stocks close in the green. Top gainers included HUL, Shriram Finance, ICICI Bank, ITC, and Britannia, with increases up to 2.5%. Conversely, the biggest losers were ONGC, Tech Mahindra, BPCL, Tata Steel, and Hindalco, with declines up to 2.91%.
The BSE Sensex also reflected a mixed bag: HUL led the gains up to 2.95%, followed by ICICI Bank, ITC, Kotak Mahindra Bank, and IndusInd Bank. However, half of its 30 stocks fell, led by Tech Mahindra’s 2.6% loss, NTPC, Tata Steel, Tata Motors, and Power Grid Corporation trailing behind.
Broader markets showed less resilience with the BSE SmallCap shedding 0.65% and the BSE MidCap dropping by 0.2%.
Sector-wise, the FMCG index emerged as the top performer, gaining 2.04%, followed by the Bank and Financial Services indices rising 1.07% and 0.82%, respectively. The Consumer Durables index also closed higher. However, the Oil & Gas index dragged down the most, closing 1.37% in the red, accompanied by declines in the IT and Metal indices.
Looking ahead, futures in Europe and the US have shown optimism as investors await the Federal Reserve’s meeting next week.
Original Story https://www.business-standard.com/markets/news/stock-market-live-updates-today-sensex-nifty-nse-bse-ola-electric-bajaj-housing-ipo-124090900057_1.html
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