Sensex and Nifty Reach Fresh Record Highs In Early Deals; Power And IT Stocks Lead
In a significant development, the Sensex and Nifty, two key equity benchmarks, surged to new record highs during early trading. This surge comes as investors closely monitor the Q1FY24 results of India Inc. At 9:45 am, the S&P BSE Sensex recorded a rise of 207 points, reaching 67,002, while the NSE Nifty traded at 19,804, up by 55 points.
Gainers and Losers on the 30-Share Sensex Platform
Among the lead gainers on the 30-share Sensex platform were NTPC, IndusInd Bank, PowerGrid, Infosys, Bajaj Finance, and Reliance. On the other hand, M&M, Maruti, Asian Paints, Airtel, TCS, and ICICI Bank faced losses. L&T Technology Services experienced a 0.3% decline after reporting a 13% YoY rise in net profit to Rs 311.1 crore for Q1FY24. However, the company witnessed a 14.7% YoY increase in revenue from operations, amounting to Rs 2,301 crore.
Broader Market Trends
The BSE Midcap and Smallcap indices witnessed gains of 0.3% and 0.5%, respectively, reflecting the positive sentiment in the broader markets.
Sectoral Performance
The sectoral indices displayed positive trends, with the power index leading the way with a 1% increase. The Nifty IT index rose by 0.76%, followed by the Nifty Bank index at 0.45%, and the Nifty Metal index at 0.37%. The only sector in the red was the auto sector.
Previous Session’s Performance
In the previous trading session, the S&P BSE Sensex closed at 66,795, marking a gain of 205 points after hitting an all-time high of 67,007 during the day. The Nifty50 closed at 19,749, recording an increase of 38 points from its previous record peak of 19,819.
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