The Indian stock market surged to record-breaking heights, led by strong performances from key players such as Reliance Industries Limited (RIL), Infosys, and the metal sector. Investors witnessed remarkable milestones with the BSE Sensex and Nifty 50 reaching new intra-day peaks.

Share Market Live

NSE

The Sensex, hit an intra-day high of 67,771 points. Simultaneously, the Nifty 50 soared to 20,168 points.

At the closing bell, the BSE Sensex gained 52 points to settle at 67,519, while the Nifty 50 registered a 33-point rise, closing at 20,103.

Notably, the Midcap Index continued its upward trajectory, building on the gains from the previous day. It outperformed both the Sensex and Nifty, bolstering investor confidence in mid-cap stocks.

In sector-specific highlights, the banking sector exhibited strength as the Nifty Bank surged by 91 points to reach 46,001. The Midcap Index saw substantial gains, with an impressive 471-point increase, closing at 40,716.

UPL, Hindalco Industries, ONGC, M&M and Eicher Motors were among the top gainers on the Nifty, while losers were Asian Paints, Coal India, ITC, LTIMindtree and Britannia Industries.

On the sectoral front, FMCG index ended with marginal cut, while oil & gas, realty, metal and PSU Bank up 1 percent each.

Stock-Specific Movements

UPL, the agricultural company, witnessed a 4 percent surge following a positive brokerage note, upgrading the stock's rating. Metal stocks also saw significant buying activity, with Hindalco and JSPL leading the pack in terms of gains.

In the automotive sector, Mahindra & Mahindra (M&M) and Eicher Motors stood out, each recording a 2 percent increase in stock value. IT stocks followed the positive trend, with Tech Mahindra reaching a 52-week high.

The surge in crude oil prices had a positive impact on ONGC, sending its stock to a 52-week high, with gains exceeding 2 percent. Conversely, Asian Paints faced challenges as Grasim announced its entry into the paint market.

Zee Entertainment Enterprises stocks declined as Axis Financial Services moved the National Company Law Appellate Tribunal (NCLAT) against its merger with Sony.

National Mineral Development Corporation (NMDC) announced a price hike of Rs 300 per tonne for both fines and lump ore, propelling the stock to a 5 percent gain.

Sugar stocks gained traction with significant trading volumes, with Balrampur Chini leading the pack with over a 4 percent gain. Cholamandalam Investment and Finance Company (Chola Invst) reached a 52-week high ahead of a Qualified Institutional Placement (QIP) issue, ending the day with a 4 percent gain.

Container Corporation of India (CONCOR) closed 3 percent higher.

Market breadth favored advances, with an advance-decline ratio of 3:1, indicating a predominantly positive sentiment among investors. Moreover, the collective market capitalization of BSE-listed companies increased by nearly Rs 2 lakh crore on this trading day.

First Published:Sept 14, 2023 3:49 PM IST