Market extends winning run, Nifty crosses 26,200 for first time since September 2024

The stock market extended the winning run for the second consecutive session on Thursday, with Nifty crossing 26,200 for the first time since September 2024.

At the close, the Sensex was up 446.21 points, or 0.52 percent, at 85,632.68, and the Nifty was up 139.50 points, or 0.54 percent, at 26,192.15.

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The market opened on a strong note with extended buying propelling the Nifty to touch the day’s high of 26,246.65.

Notably, this is just 30 points below the record high of 26,277.35, touched on September 27, 2024.

Among the sectors, a mixed trend was observed with major indices ending in the green.

Nifty Financial Services rose the most at 0.72%, followed by Oil & Gas with a 0.59% gain, Auto up 0.44% and Private Bank up 0.34%. Meanwhile, FMCG, IT, and Realty saw only marginal moves.

Nifty Media was the biggest loser with a 1.56% drop. Moreover, Consumer Durables, Pharma, and Healthcare also ended slightly lower.

Nifty Bank continued hitting fresh record highs for the fourth consecutive session, touching a new high of 59,440.10 and ending 0.22% higher at 59,347.70.

On the Nifty, those at gaining side were Eicher Motors, Bajaj Finserv, Bajaj Finance, Reliance Industries, Tech Mahindra, while losers were Asian Paints, HCL Technologies, Titan Company, Apollo Hospitals, and Tata Steel.

Out of 4,353 stocks traded on the BSE, 1,872 advanced, while 2,304 declined.

Some 177 stocks remained unchanged.

On the BSE, more than 140 stocks touched their 52-week high while 180 stocks hit their 52-week low.

Those hitting highs included M&M Financial, Radico Khaitan, Hitachi Energy, Chennai Petro, Hero MotoCorp, MCX India, Axis Bank, SBI Life Insurance, Bharti Airtel, SBI, Titan Company, PNB, Bharat Forge, Canara Bank, and Bank of Baroda, among others.

KNR Construction, Page Industries, United Breweries, Nitco, Man Infra, Fischer Medical, Orient Cement, and United Foodbrands, among others, were on the lows.

In some of the specific performances, NBCC (India) share rose 2.5%, Va Tech Wabag shares gained, ACME Solar shares rose, and Mahindra Holidays rose by 2.7%.

The FIIs turning buyers in the cash market also remained a reflection of this changing perception towards the Indian market.