The Market Overview of Sujata Muguda for Business News for Profit

On Monday, September 23, 2024, Indian benchmark indices, the BSE Sensex and NSE Nifty50, reached historic milestones, closing at record highs. The Sensex surged by 384.30 points, or 0.45%, to close at 84,928.61, after hitting a new intraday peak of 84,980.53.

Similarly, the Nifty50 touched an all-time high of 25,956, just 44 points short of the 26,000 mark. It finished the day with a gain of 148.10 points, or 0.57%, settling at 25,939.05. Individual performers within the Nifty 50 also shone brightly, with 34 out of the 50 constituents closing in positive territory. Bajaj Auto took the lead with a 3.7% jump, and other notable companies such as Mahindra & Mahindra, ONGC, and Hero MotoCorp followed suit with significant gains.

On the other hand, Eicher Motors, ICICI Bank, Divi’s Labs, Wipro, and IndusInd Bank were among the 16 stocks that closed lower.

The surge in the market is not solely attributed to one sector; it has been a collective effort. Realty and auto stocks have rallied, contributing significantly to the market’s overall strength. Moreover, the persistent recovery in Public Sector Undertaking (PSU) stocks has added to the positive sentiment, ensuring that all major sectoral indices wrapped up Monday’s trading session on a high note.

Leading the sectoral indices was the Nifty PSU Bank, which saw an impressive 3.47% rise. This was closely followed by gains in the Nifty Realty, Nifty Oil & Gas, Nifty Auto, and Nifty Consumer Durables sectors, with increases ranging from 1.3% to 2.5%.

Look out for Business News For Profit’s market watch reports for a deeper dive and expert perspectives on the market’s state. In the stock market’s ever-evolving landscape, our commitment to providing accurate and timely information will continue to support investors in making informed decisions.

Notice: This article should not be interpreted as financial or funding advice; rather, it is only intended to be used for general informative purposes. Investing in the inventory market has risks, and results from the past are not guaranteed for the future. Before making any investing decisions, get the advice of a financial expert.