NIFTY50 and SENSEX end the volatile trading session at record high led by Reliance Industries

Indian equity benchmark indices witnessed a volatile session to eventually end the session at record highs led by index heavyweight Reliance Industries. Shares of Reliance Industries surged to a one-month high after the company announced that a board meeting is scheduled on September 5, 2024, to approve a 1:1 bonus share. The NIFTY50 registered gains of 3% in August F&O series.

The NIFTY50 index extended its winning streak to 11th consecutive session and logged its best winning streak in over a decade to end at 25,151.95 up by 99.60 points. The SENSEX also saw its rally extending to eight straight sessions and closing above the 82,100 mark, up by 349.05 points. However, the broader market bucked the positive trend and closed lower on Nifty Midcap 100 and Smallcap 100, , down by 0.44% and 0.54%, respectively. The Nifty Bank ended flat with modest gains of 8.90 points.

Top Gainers & Losers

Index Movers

Coming to the NIFTY50 index pullers and draggers, Reliance Industries (+35.44 pts), ITC (+16.1 pts), Tata Motors (+15.29 pts), Bajaj Finance (+10.5 pts) and HCL Tech (+7.42 pts) were the pullers of the day. Draggers included M&M (-7.68 pts), Infosys (-7.27 pts), Kotak Bank (-4.48 pts), Grasim Industries (-3.39 pts), and Sun Pharma (-2.94 pts).

Broader indices

Today, the broader market ended the day on a negative note. The Nifty Midcap 100 declined by -0.44%, and the Nifty Smallcap 100 index closed lower by -0.54%. Market breadth was weak on Thursday as the declining stocks outnumbered the advancing stocks.

Sectoral Indices

The sectoral indices closed the day on a mixed note. The top three gainers were Nifty Oil & Gas (+0.94%), Nifty FMCG (+0.72%), and Nifty Auto (+0.54%). The top losers were Nifty Metal (-0.48%), Nifty Pharma (-0.48) and Nifty Media (-0.31%).

Asian Markets

On Thursday, most of the Asian indices closed on a negative note. Japan’s Nikkei 225 ended down by -0.05%, the Kospi declined by -1.03% and Shanghai fell by -0.50%. Meanwhile, the Hang Seng index closed up by +0.53%.

As of 3:39 PM, The Dow Jones futures were trading up by 213 points at 41,391.