Equity benchmarks surged sharply in today’s trade, with the Sensex and Nifty posting strong gains as bullish sentiment returned to Dalal Street after declining in the last four trading sessions.
The rally was driven by a combination of positive global cues, buying interest in heavyweight stocks and improved risk appetite among investors.
Sensex traded 422.50 pts or 0.50 per cent higher at 84,904.31 at 12.53 pm after hitting a high of 85,067.50 (over 586 pts higher from the previous close of 84,481.81. Nifty 50 traded with 132.90 pts or 0.51 per cent gains at 25,948.45, scaling to a high of 25,979.25 against the previous close of 25,815.55.
Smallcap index rose by 0.61 per cent, while the midcap index was up 0.45 per cent.
All sectoral indices except metal and consumer durables traded in green. Auto index led the chart with over 1 per cent increase. Meanwhile, metal and consumer durables dipped 0.29 per cent and 0.18 per cent, respectively.
Top gainers & losers of Nifty 50
Shriram Finance, Max Healthcare, Bajaj Auto, Bharat Electronics and Reliance Industries led the gainers of Nifty 50 pack, while HCL Tech, Hindalco, Dr Reddy’s Lab, Adani Enterprises and Bharti Airtel dipped the most among losers.
Market breadth remained positive in the afternoon, with 3,074 stocks traded on the National Stock Exchange. Advancers outnumbered decliners, as 1,900 stocks traded higher against 1,069 that declined, while 105 stocks remained unchanged.
Momentum was selective, with 41 stocks (such as Titan, Shriram Finance, JK Tyre and Hindustan Copper) hitting fresh 52-week highs, even as 99 stocks (including Page Industries) slipped to new 52-week lows.
On the circuit front, 49 stocks were locked in the upper circuit, indicating strong buying interest, whereas 32 stocks were in the lower circuit, reflecting pockets of selling pressure.
Vi, Ola Electric among top movers
Among midcap stocks, Tata Elxsi, Vodafone Idea, Vishal Mega Mart, PB Fintech and Waaree Energies soared 3-7 per cent, while Blue Star, HDFC AMC, SAIL, Voltas and Motilal OFS declined up to 5 per cent.
Ola Electric rallied 10 per cent under the smallcap basket. BLS International, JBM Auto, Atul Auto and NBCC soared 3-4 per cent, while Nuvama, Five Star Business, Lal Path Labs, Newgen and Crompton were down up to 4 per cent.
On the BSE, shares of Rain Industries, Ola Electric, ITI and Tata Elxsi zoomed 7-12 per cent, while Shree Renuka, Blue Star, Gabriel and Epigral declined 3-5 per cent.