The indices retreated from their highs but managed to close in the green, with the IT sector leading the gains while banks underperformed.

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NSE

The BSE Sensex posted a gain of 307 points, closing at 65,983, and the Nifty 50 advanced by 87 points to reach 19,762.

However, the Nifty Bank witnessed a decline of 40 points, settling at 44,162, while the Midcap Index surged 322 points to finish at 41,726.

Top gainers on the Nifty 50 were Hero MotoCorp, Tech Mahindra, TCS, HCL Technologies and Infosys, while losers were Axis Bank, Coal India, Power Grid Corporation, Tata Consumer Products and Adani Enterprises.

During intra-day trade, both the Nifty Midcap and Small Cap segments marked record highs. Additionally, Nifty Auto and Realty sectors also touched record highs but closed nearly 1% higher.

The IT sector emerged as a significant contributor to the market's positive performance, with heavyweights like TCS and Infosys leading the charge. Nifty IT closed nearly 3% higher.

Stock wise movements

Vodafone Idea experienced a more than 2% rise after reporting a contraction in subscriber losses for the month of August. Meanwhile, Reliance Industries ended flat, and ONGC registered a gain of more than 1%, buoyed by positive developments in the crude and diesel markets, including a windfall tax cut.

Manappuram Finance continued its winning streak, ending in the green for the fourth consecutive session with a gain of over 6%. Other notable performers included Tata Motors, Persistent Systems, NTPC, and HAL, all of which hit record highs during intra-day trade.

Hero Moto emerged as the top gainer on the Nifty, driven by its highest-ever festive retail sales, closing up by 3%. Meanwhile, Bajaj Finance recovered from opening lows to end nearly 2% higher.

(Will be updated)