Published 09:36 IST, October 10th 2024
Sensex rises over 250 points, Nifty above 25,050 led by L&T, HDFC Bank
Buying was visible across board as all the 13 sector gauges compiled by the National Stock Exchange, barring the measure of pharma shares, were trading higher.
Sensex , Nifty today: The Indian equity benchmarks moved higher on Thursday led by gains in index heavyweights like Larsen & Toubro, HDFC Bank, Tata Consultancy Services, Axis Bank, ITC, NTPC and Power Grid. The Sensex rose as much as 366 points and Nifty 50 index was firmly trading above its important psychological level of 25,050 amid strong cues from global markets.
As of 9:20 am, the Sensex was up 194 points at 81,669 and Nifty 50 index advanced 71 points to 25,052.
Most of the Asian markets were trading higher with Japan's Nikkei rising 0.2 per cent, Hong Kong's Hang Seng advanced 1.96 per cent, South Korea's KOSPI added 0.5 per cent and Australia's S&P/ASX 200 index advanced 0.60 per cent.
Overnight, Wall Street stocks advanced on Wednesday with the S&P 500 and the Dow scoring record closing highs after the release of Federal Reserve meeting minutes and ahead of September inflation data and the earnings season.
The Dow Jones Industrial Average rose 431.63 points, or 1.03 per cent, to 42,512.00. The S&P 500 gained 40.91 points, or 0.71 per cent, at 5,792.04 and the Nasdaq Composite climbed 108.70 points, or 0.60 per cent, to 18,291.62.
Sectoral Picture
Back home, buying was visible across board as all the 13 sector gauges compiled by the National Stock Exchange, barring the measure of pharma shares, were trading higher led by the Nifty Realty index's 0.7 per cent gain. Nifty Oil & Gas, Consumer Durables, Metal, Media, Private Bank and Financial Services indices also rose between 0.3-0.45 per cent.
Mid- and small-cap shares were witnessing buying interest as Nifty Midcap 100 index rose 0.45 per cent and Nifty Smallcap 100 index advanced 0.5 per cent.
Among the individual shares, GR Infraprojects rose as much as 5.81 per cent to hit an intraday high of Rs 1,730 after the company informed exchanges that it won an order from Maharashtra Metro Rail Corporation Limited for Design and Construction of Elevated Metro Viaduct for Nagpur Metro Rail Project. The order is valued at Rs 903 crore.
Gainers and Losers
Larsen & Toubro was top Nifty gainer, the stock rose 1.68 per cent to Rs 3,545. Mahindra & Mahindra, Hindalco, Power Grid, Tata Steel, NTPC, Bharat Electronics, JSW Steel, HCL Technologies, Bajaj Auto and Bharat Petroleum also rose between 0.9-1.5 per cent.
On the flipside, Adani Enterprises, Trent, Apollo Hospitals, Infosys, Asian Paints, Tech Mahindra, Hindustan Unilever, ICICI Bank and Tata Motors were among the losers.
The overall market breadth was positive as 2,174 shares were advancing while 686 were declining on the BSE.
(With Reuters inputs)
Updated 09:36 IST, October 10th 2024