After Diwali, on October 23, the Indian stock market closed higher for the sixth consecutive day. The BSE Sensex rose by 130 points to close at 84,556, and the NSE Nifty50 gained 22 points to close at 25,891. Investor buying and positive domestic cues pushed the market to new highs.
Stock Market Today: After Diwali, the Indian stock market started robustly on Thursday, October 23, closing in the green for the sixth consecutive day. The Sensex opened at a high of 85,154, climbed 130 points, and closed at 84,556, while the Nifty50 opened at 26,057 and closed at 25,891. Domestic demand, improved corporate results, and b investor sentiment propelled the market to new highs.
Sensex and Nifty Gains
Today, the Bombay Stock Exchange (BSE) Sensex closed with a gain of 130.06 points at 84,556.40. Meanwhile, the National Stock Exchange (NSE) Nifty closed ber by 22.80 points at 25,891.40. This marked the sixth consecutive session where the market closed in the green.
The market also started positively in the morning. The Sensex opened at 85,154.15, while it had closed at 84,426.34 in the previous trading session. The Nifty opened at 26,057.20, having closed at 25,868.60 in the last session. Buying sentiment was observed in banking, IT, and metal stocks within the initial minutes.
Midcap and Smallcap Stocks Surge
Market breadth remained b. The BSE Midcap Index rose by 0.4 percent, while the Smallcap Index closed 0.6 percent higher. Investors actively bought into midcap auto, pharma, and FMCG stocks.
IT and Banking Sectors Provide Support
In today's session, the IT and banking sectors bolstered the market. Buying was seen in heavyweight stocks such as Infosys, TCS, HDFC Bank, Axis Bank, and SBI. According to experts, relief in US visa regulations and b domestic credit growth figures boosted investor confidence in these sectors.
Top Gainer Stocks
Today's top gainer stocks included Birlasoft, HDFC Bank, Tata Motors, Bajaj Finance, and TCS. Birlasoft recorded a surge of over 10 percent, while Tata Motors and Bajaj Finance shares gained up to 2 percent. IT sector stocks saw gains for the second consecutive day, leading the Nifty IT index to close 1.5 percent higher.
Top Loser Stocks
Conversely, today's top loser stocks included Adani Ports, Power Grid, Hindalco, Sun Pharma, and Coal India. These stocks recorded declines ranging from 0.5 to 1.5 percent. Slight profit-booking was observed in some stocks from the energy and fertilizer sectors.
Sectoral Index Performance
Nifty Bank closed with a gain of 0.3 percent, while Nifty IT surged by 1.5 percent. Nifty Metal and Nifty Auto recorded gains of 0.8 and 0.6 percent, respectively. On the other hand, Nifty Pharma and FMCG experienced slight declines.
