The Indian equity benchmark indices closed at record highs, nearly a percent higher, on Thursday led by strong gains in IT, PSU Banks, and media stocks.

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The Sensex rose 318 points to end at 54,843 and Nifty50 surged 82 points to end at 16,364. The broader market indices outperformed the benchmark after witnessing selling for days in a row. The Nifty Midcap index closed a percent higher, whereas the Nifty Smallcap index surged over 2 percent.

The market breadth is in favour of advances; for every one stock that declined, 4 stocks advanced today.

On the Nifty50 index, Power Grid, Tech Mahindra, Tata Motors, L&T, and HCL Tech were the top gainers, with each scrip rising in the range of 2-6 percent. Power Grid surged nearly 6 percent. However, Eicher Motors, Dr Reddy, Cipla, IOC, and ONGC were the top losers, with each Eicher Motors losing over 4 percent.

On the Nifty's sectoral gauge, Nifty Media surged the most -- rising 2.28 percent. It was followed by Nifty IT that gained nearly 2 percent and Nifty PSU Bank that rose over 1 percent.

The shares of IRCTC surged over 6 percent to hit the 52-week high of Rs 2,727 after its board approved a stock split of its equity shares. Its one share with a face value of Rs 10 would be split into 5 shares with a face value of Rs 2 each.

Lupin shares extended their losses on Thursday, falling another five percent after the company’s first-quarter earnings missed street estimates.

The stock price fell over six percent on August 11 after the company reported its Q1FY22 earnings. The stock is down almost 14 percent in the last four trading sessions.

(Edited by : Yashi Gupta)

First Published:Aug 12, 2021 3:37 PM IST