Mumbai, September Friday’s trading session was historic for the Indian stock market. During the trading session, the three main indexes Sensex, Nifty and Nifty Bank made new all-time highs of 84,694, 25,849 and 54,066 respectively.
At the end of trading, the Sensex was up 1,359.51 points or 1.63 percent at 84,544 and the Nifty was up 375 points or 1.48 percent at 25,790. Nifty Bank closed at a record high of 53,793, up 755 points or 1.42 percent.
Along with large caps, buying was also seen in small and midcap stocks. The Nifty Midcap 100 index closed at 60,208, up 856 points, or 1.44 per cent, and the Nifty Smallcap 100 index closed at 19,332, up 187 points, or 0.98 per cent.
Almost all indices except PSU banks closed in the green. Auto, IT, Fin Services, Pharma, Metal, Realty, FMCG and Energy were the top gainers. 26 out of 30 stocks in the Sensex pack closed in the green.
M&M, JSW Steel, ICICI Bank, L&T, Bharti Airtel, Nestle, HUL, HDFC Bank, Tech Mahindra, Maruti Suzuki and Kotak Mahindra Bank were the top gainers. SBI, IndusInd Bank, TCS and Bajaj Finance were the top losers.
Krishna Appala, Senior Research Analyst at CapitalMind Research, said that the impact of the US market touching an all-time high after the Fed cut interest rates is being seen on the Indian markets. This has also opened the way for the RBI to cut interest rates. From a long-term perspective, IT, financial and pharma stocks are looking good from here.
