The Indian stock market recovered from intra-day lows to end higher led by financials.

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NSE

Nifty 50 ended above the 20,000 mark for the first time. Nifty PSU Bank hit a record high PNB, Central Bank of India rose up to 8 percent. The Midcap Index saw a sharp recovery in last hour of trade RBL Bank, Federal Bank were the top contributors. BSE Sensex gained 246 points and ended at 67,467 while Nifty 50 rose 77 points and closed at 20,070.

Grasim Industries, Coal India, Bharti Airtel, Tata Consumer Products and Titan Company were among the major gainers on the Nifty, while losers included HDFC Life, Jio Financial, L&T, M&M and Adani Ports.

Among sectors, metal and oil & gas up 1 percent each and PSU Bank index up 4 percent, while capital goods, auto and Information Technology indices ended on a negative note.

Nifty Bank climbed up 398 points to 45,909 and Midcap Index rose 75 Points and ended 40,245.

Stock movements

Pharmaceutical stocks had a fruitful day in the market, with companies such as Granules and Glenmark emerging as top gainers in the sector. Positive developments in the healthcare industry contributed to the optimism among investors, resulting in a surge in pharmaceutical shares.

Five Nifty stocks, including Bharti Airtel, Grasim Industries, and Titan, achieved record-high levels during the trading session, reflecting the overall bullish sentiment in the market.

Zydus Life, a notable pharmaceutical company, closed more than 2 percent higher following the issuance of an Establishment Inspection Report (EIR) for its Ahmedabad unit.

However, not all companies experienced gains, as IndiGo, one of India's leading airlines, ended 2 percent lower due to concerns related to Pratt & Whitney engine issues.

Bharti Airtel, one of India's telecom giants, hit a record high and ended more than 2 percent higher, pushing its market capitalization above Rs 5 lakh crore.

Coffee Day Enterprises witnessed a surge of 20 percent after the National Company Law Appellate Tribunal (NCLAT) terminated insolvency proceedings against the company.

Godrej Properties, a prominent real estate developer, saw its stock rise by over 1 percent as Knight Frank reported a staggering 99 percent year-on-year increase in property registrations in Pune for August.

In a significant milestone, Tata Group's total market capitalization surpassed Rs 25 lakh crore, with Tata Consultancy Services (TCS).

First Published:Sept 13, 2023 3:57 PM IST