The Market Overview of Sujata Muguda for Business News for Profit

On September 20, 2024, Indian benchmark indices, the BSE Sensex and NSE Nifty50, soared to record highs, closing the week with gains of over 1% each, in line with a global market rally.

The Sensex surged 1,359.51 points, or 1.63%, to settle at 84,544.31, after hitting a historic intraday high of 84,694.46.

Similarly, Nifty50 reached an all-time high of 25,849.25 before closing the session with a gain of 375.15 points, or 1.48%, at 25,790.95.

The bulls dominated the day, with 44 of the 50 Nifty50 stocks closing in the green. Mahindra & Mahindra, ICICI Bank, JSW Steel, Larsen & Toubro, and Coal India led the gains, each rising to 5.3%. On the other hand, Grasim Industries, SBI, and NTPC were among the six stocks that ended lower.

Broader indices also followed the upward trend, with the Nifty Midcap 100 rising 1.44% and the Nifty Smallcap 100 gaining 0.98%.

All sectoral indices, except Nifty PSU Bank, finished in positive territory. The percentage change of various Nifty indices shows positive performance across most sectors, with Nifty Realty leading the gains at 3.05%. Other notable increases include Nifty Private Bank (1.54%), Nifty Auto (1.88%), and Nifty Financial Services (1.58%). Nifty Metal also performed well with a 1.65% gain. The only index to show a slight decline was Nifty PSU Bank, which fell by -0.09%. Indices like Nifty IT, Nifty Media, and Nifty Pharma posted more modest gains, ranging between 0.33% and 0.62%.

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: Nothing in this article should be interpreted as financial or investment advice; it is solely intended for general informational purposes. Investing in the stock market carries market risks, and historical performance does not guarantee future outcomes. Before making any investing decisions, always seek the advice of a financial professional.