On Tuesday, September 24, as many as 300 stocks, including Mahindra & Mahindra (M&M), NTPC, Bharti Airtel, JSW Steel, and Sun Pharma, reached fresh 52-week highs during intraday trading on the BSE. Other notable stocks such as Zomato, Apollo Hospitals, Bajaj Auto, Hero MotoCorp, DMart, Hindalco, Indian Hotels Company, Max Healthcare Institute, Tata Power Company, Trent, TVS Motor Company, and United Spirits also hit new one-year highs.
The Sensex and Nifty 50 both scaled new record highs of 85,163.23 and 26,011.55, respectively, but closed relatively flat. Gains from major stocks like HDFC Bank, Tata Steel, and Power Grid were offset by losses in Hindustan Unilever, Kotak Mahindra Bank, ICICI Bank, and Reliance Industries. The Sensex ended the day at 84,914.04, down 15 points, while the Nifty 50 settled at 25,940.40, up by just 1 point.
The BSE Midcap index increased by 0.21%, while the Smallcap index slipped by 0.04%. The total market capitalization of BSE-listed companies remained steady at ₹476 lakh crore.
The market sentiment continues to be bolstered by the start of the rate reduction cycle in the US, although profit-booking at record-high levels remains a concern. Experts believe that upcoming events like RBI’s monetary policy in October, Q2 earnings, and global cues will be key drivers in the near term.
Disclaimer: Investors are advised to consult certified experts before making any investment decisions.
