NIFTY50, SENSEX close at record highs, Auto stocks in fastlane
Upstox
2 min read • Updated: April 8, 2024, 4:59 PM
Summary
The benchmark index outperformed the broader markets. NIFTY Midcap 100 rose 0.04%, while NIFTY Smallcap 100 was up 0.32%. Meanwhile, the NIFTY Bank (+0.18%) index hit an intraday high of 48,716 on Monday. The index closed at 48,581.
Benchmark indices NSE NIFTY50 and BSE SENSEX closed at fresh record highs with gains of 0.68% and 0.67%, respectively. Monday's session also witnessed the market capitalisation of BSE-listed companies crossing the ₹400 lakh crore mark. Read more.
NIFTY50 settled 152 points higher at 22,666, while SENSEX gained 494 points to close at 74,742. Intraday, NIFTY and SENSEX touched new life highs of 22,697 and 74,869.
As per experts, benchmark indices ended a week-long consolidation phase and made a move towards a new peak supported by favourable global cues and upbeat optimism around Q4 earnings expectations.
Out of the NIFTY50 space, 37 stocks were advancing. Eicher Motors, Mahindra & Mahindra, Maruti Suzuki, NTPC and SBI Life were the top gainers, while Adani Ports, Nestle India, Apollo Hospital, Wipro and Sun Pharma dragged the index.
On the sectoral front, NIFTY Auto (+2.1%), Oil & Gas (+1.4%) and Realty (+1.3%) were the top gainers, while NIFTY PSU Bank (-0.8%), Media (-0.7%) were top losers. Meanwhile, the NIFTY Bank (+0.18%) index hit an intraday high of 48,716 on Monday. The index closed at 48,581.
The benchmark index outperformed the broader markets. NIFTY Midcap 100 rose 0.04%, while NIFTY Smallcap 100 was up 0.32%.
Exide Industries closed 16% higher at ₹375 after its wholly-owned arm sealed an agreement with Hyundai Motor and Kia Corporation for electric vehicle (EV) battery localisation. Read more.
JSW Steel also ended with gains of 2.2% after the company reported robust growth in its consolidated crude steel production in FY24, exceeding its annual production guidance.