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SENSEX reclaims 81,500 mark, NIFTY50 jumps 150 points as Nifty Bank outperforms with 1% gain
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2 min read | Updated on October 08, 2024, 13:21 IST
SUMMARY
The Indian equity benchmark indices extended their morning gains, with SENSEX reclaiming the 81,500 mark and NIFTY50 trading near 24,950 mark. Leading the rally were index heavyweights HDFC Bank and Reliance Industries, which contributed to the upward momentum. The Nifty Bank and the broader markets outperformed the frontline indices.
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SENSEX reclaims 81,500 mark, NIFTY50 jumps 150 points as Nifty Bank outperforms with 1% gain
After experiencing a sharp 6% correction from the all-time high of 26,277.35, the NIFTY50 index has seen a recovery on Tuesday. The frontline indices began the session on a positive note, and as the day progressed, they extended their gains. By midday, the NIFTY50 index was trading at the 24,950 mark, up by 0.62%, while the SENSEX was up by 0.56%, standing at 81,500. The Nifty Bank index outperformed the frontline indices, gaining over 1% and reclaiming the 51,000 mark. Meanwhile, the India VIX, eased trading at 14.75.
On Tuesday, the NIFTY50 index displayed a strong market breadth, with 30 stocks advancing against 20 declining. Overall, market breadth was strong, as 1,894 stocks advanced compared to 484 that declined. Both the Nifty Midcap 100 and Nifty Smallcap 100 indices outperformed, rising by 1.43% and 1.17%, respectively.
Among the sectoral indices, most were trading in positive territory, with Nifty Media leading the gains at 2.67%, followed by Nifty PSU Bank at 1.12%. On the other hand, Nifty Metal (-1.3%), emerged as top loser, extending its losses. Earlier in the session, the Nifty Metal index fell below the 20-DMA and is now about 6% down from it's all-time high.
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