Market extends winning streak, Nifty 50 closes above 25,100

The stock market on Friday extended its winning streak to 8th consecutive session, with the Nifty 50 closing above 25,100 for the first time since July 23. The streak was led by auto, pharma, and metal stocks.

At close, the Sensex was up 355.97 points, or 0.44%, at 81,904.70, and the Nifty 50 was up 108.50 points, or 0.43%, at 25,114.00. The BSE Midcap and Smallcap indices closed with marginal gains. The BSE Midcap index ended 0.09% higher while the Smallcap index climbed 0.27%.

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The overall market capitalisation of BSE-listed firms rose to nearly Rs 459 lakh crore from Rs 457 lakh crore in the previous session.

Among the sectors, major indices ended higher, except for Nifty FMCG, which was down 0.71%.

Media was also down 0.39%, while PSU Bank declined by 0.27%.

On the other hand, Nifty Metal was up 0.93%, Financial Services was up by 0.70%, and Bank was up 0.26%.

The top gainers on the Nifty were shares of BEL, up 3.71%, Bajaj Finance, up 3.34%, and Bajaj Finserv, up 2.23%, with around 30 stocks ending higher in the index.

Shares of Eternal down by 1.90%, Hindustan Unilever down by 1.53%, and IndusInd Bank down by 1.102% ended as the top losers in the index.

Around 135 stocks hit their 52-week highs, while 53 stocks touched 52-week lows.

Those on the highs were Aditya Birla Capital Ltd, Affle 3I Ltd, Anand Rathi Wealth Ltd, Bajaj Finance Ltd, Gujarat Mineral Development Corporation Ltd, Waaree Energies Ltd, and Zydus Wellness Ltd, among others.

Notable mentions on lows were Bhagiradha Chemicals & Industries Ltd, Dhruv Consultancy Services Ltd, and Laxmi Dental Ltd.

The market’s upward trend was driven by weak U.S. employment data that increased expectations for an interest rate cut by the Federal Reserve next week.