Best-performing stocks today: Standardised indexes ended up moving higher, with gains from SBI and L&T leading the way. Sun Pharma and M&M, however, were among the major laggards.
On Thursday, September 7, the domestic equity benchmarks Sensex and Nifty ended the session higher for the fifth session in a row, helped by gains in a few heavyweights like Larsen & Toubro, HDFC Bank, and ICICI Bank. This was the case despite weak global cues due to concerns about the possibility of sustained increases in interest rates.
Seoul, Tokyo, Shanghai, and Hong Kong all saw declines in their respective Asian markets. At the end of the Sensex, the major European markets saw modest increases. As investors continue to be optimistic about India's long-term economic potential, analysts said, the rebound today took place despite weakening in the Asian and US markets.
Following a session-high of 32,396.28, the BSE Midcap index closed 0.79 percent higher at 32,374.93. After reaching a session high of 38,169.65, the BSE Smallcap index increased 0.40 percent to close at 38,101.21.
In addition to Nifty Realty's 1.48 percent increase, public sector enterprise's 1.46 percent gain, and banks' 1% gain, ten of the 13 key sectoral indexes also saw gains. On the strength of significant order wins and a robust order book, niche industries like shipping and defence stocks continue to attract investment. Paper and sugar stock prices kept rising.
Vinod Nair, Head of Research at Geojit Financial Services, commented on the market's performance today, saying, "The domestic market initially opened with a lacklustre performance, impacted by weak global signals. But as the day went on, a drop in the price of crude oil and US bond yields gave the market some hope. The banking sector's stock prices exhibited the most optimism.
Contrary to popular belief, mid- and small-cap stocks have maintained investor interest while having relatively high valuations. Nair continued, "However, the continually poor trade data from China continues to cast a shadow over the outlook for the global market.
Sensex:
Top gainers included HCL Technologies (1.49%), IndusInd Bank (2.26%), Tech Mahindra (1.69%), State Bank of India (1.55%), and Larsen & Toubro (4.26%).
Hindustan Unilever (-0.60%), Infosys (-0.73%), Mahindra & Mahindra (-0.74%), Sun Pharmaceuticals (-0.88%), and UltraTech Cement (-0.59%) are the top losers.
Nifty50:
Top gainers included Larsen & Toubro (4.24%), IndusInd Bank (2.08%), SBI Life Insurance (1.80%), and State Bank of India (1.77%).
The biggest losers were Mahindra & Mahindra (-0.77%), Sun Pharmaceuticals (-0.73%), ONGC (-0.98%), Tata Consumer Products (-2.27%), and Britannia Industries (-0.90%).
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