Closing Bell: Nifty breaches 18000 mark, Sensex hits all time high; Auto and Power stocks shine.
Last Updated: 29th October 2021 - 02:47 pm
At Closing Bell on Monday. Nifty breaches the 18000 mark, Sensex hits all time high. Auto and Power stocks shine.
As is the story for the past few months, the Indian stock market is scaling new trading peaks each day, and today was no different as benchmark indices Sensex and Nifty closed at record highs.
At the closing bell on October 11, 2021, the Sensex was up 76.72 points or 0.13% at 60,135.78, and the Nifty was up 50.80 points or 0.28% at 17,946.00. On the bourses today, 1814 shares have advanced, while 1375 shares declined, and 141 shares were unchanged.
Automobile, utility and power company stocks were trending throughout the trading session and outperformed broader markets. BSE midcap and smallcap indices were up by more than 0.55% each and closed at 25,978.36 and 29,506.36 respectively.
Among the top gainer for the day were Maruti Suzuki, Powergrid Corporation, ITC, NTPC and SBI. Top losers in Monday's trading session include TCS, Tech Mahindra, Infosys, and HCL Technologies.
Tata Motors reported retail sales for the second quarter ending September 2021 were 92,710 vehicles, 18.4% lower than the 1,13,569 vehicles sold in Q2 last year.
Tata Motors touched a 52-week high of Rs 420.75 and was trading at Rs 415.60, up by 8.53% on the BSE.
On sectoral basis, the IT index fell by 3%, while auto, bank, metal, power and realty indices added 1-2.5%.
According to market experts, the auto sector will continue its outperformance in expectation of demand revival during the festive season, whereas power and renewable energy will continue to be in focus.
Banking stocks also followed the buying trend owing to strong business preview numbers and favourable credit growth data. But, the IT sector was under pressure as initial earnings releases failed to meet market expectations.
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Tanushree Jaiswal
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