WEEK-END MARKET UPDATES: Benchmark indices edged closer to historic highs as the week drew to a close in anticipation of the upcoming G20 Summit. This surge was primarily driven by robust support from the Bank Nifty, bolstered by positive developments emanating from the Reserve Bank of India (RBI) and the performance of Public Sector Undertaking (PSU) and Infrastructure stocks.
At the close of trading on Friday, the Sensex exhibited a noteworthy gain of 333.35 points, equivalent to a 0.50 percent increase, settling at 66,598.91. Simultaneously, the Nifty experienced an uptick of 93 points or 0.47 percent, culminating at 19,820.
Despite cautious sentiment in the global market, the domestic equity benchmarks, Sensex and Nifty, managed to record their sixth consecutive session of gains on Friday, September 8. These gains marked the second consecutive week of positive performance and the best week since the ending of June 30, with each index registering an approximate 2 percent increase. The MSCI All Country stock index stabilized after a period of fluctuation.
Notably, Sensex remained in positive territory throughout the trading session on Friday, even as international markets exhibited some weakness. This was attributed to declines in US stock futures, the dollar, and Treasury yields, primarily driven by expectations of the Federal Reserve keeping interest rates unchanged in its September meeting. In stark contrast, major European markets, including the FTSE in the UK, CAC in France, and DAX in Germany, all posted significant losses by the time Sensex closed.
The day concluded with Sensex up by 333 points or 0.50 percent, reaching 66,598.91, while Nifty closed at 19,819.95, reflecting a gain of 93 points or 0.47 percent.
Within the broader market, the BSE Midcap index demonstrated notable strength, closing with a robust gain of 0.92 percent at 32,672. During the session, it achieved a fresh record high of 32,692.74. Similarly, the BSE Smallcap index also reached a new record high of 38,369.21 during the trading session, ultimately closing at 38,266.53, up 0.43 percent.
Here is a breakdown of the top gainers and losers among stocks during the trading session on September 8th:
Sensex: Top gainers included NTPC (6.20%), Tata Motors (2.02%), Larsen & Toubro (1.93%), Bajaj Finserv (1.42%), and Bharti Airtel (1.02%). Conversely, the top losers comprised UltraTech Cement (-0.79%), ITC (-0.71%), Wipro (-0.58%), Tech Mahindra (-0.54%), and Tata Steel (-0.46%).
Nifty50: Leading the gainers on the Nifty50 were NTPC (2.73%), Coal India (2.75%), Bharat Petroleum Corp Ltd (2.06%), Tata Motors (1.96%), and Larsen & Toubro (1.88%).
On the downside, the top losers included UPL (-1.03%), Eicher Motors (-0.90%), Apollo Hospitals (-0.82%), UltraTech Cement (-0.77%), and SBI Life Insurance (-0.75%).
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