The Indian stock market ended with decent gains on Friday, September 12, supported by select heavyweights, including ICICI Bank, Bajaj Finance and Reliance Industries, amid largely positive global cues.
The Sensex closed 356 points, or 0.44 per cent, higher at 81,904.70, while the Nifty 50 ended at 25,114, up 109 points, or 0.43 per cent. The mid and small-cap segments also ended in the green, but they underperformed the benchmarks. The BSE Midcap index ended 0.09 per cent higher while the Smallcap index climbed 0.27 per cent.
Investors earned nearly ₹2 lakh crore in a single session as the overall market capitalisation of BSE-listed firms rose to nearly ₹459 lakh crore from ₹457 lakh crore in the previous session.
Indian stock market: 10 key highlights from the day
1. Why did the Indian stock market rise today?
Positive global cues, including expectations of a Fed rate cut next week and the indication that an India-US trade deal could be finalised soon, kept market sentiment positive.
Domestically, healthy macroeconomic conditions and hopes of earnings revival from the next quarter due to tax reforms remain key positives for the market.
“The national market closed at a three-week high, supported by renewed global optimism over a potential Fed rate cut. Sentiments improved further on reports that the EU may reject U.S. tariff proposals on India for buying Russian oil. Progress in US-India trade talks is also expected to keep the positive momentum intact in the near term,” Vinod Nair, Head of Research, Geojit Investments Limited, observed.
2. Top gainers in the Nifty 50 index today
Shares of BEL (up 3.71 per cent), Bajaj Finance (up 3.34 per cent), and Bajaj Finserv (up 2.23 per cent) ended as the top gainers in the index. As many as 30 stocks ended higher in the index.
3. Top losers in the Nifty 50 index
Shares of Eternal (down 1.90 per cent), Hindustan Unilever (down 1.53 per cent), and IndusInd Bank (down 1.102 per cent) ended as the top losers in the index.
4. Sectoral indices today
All major sectors ended higher, except for Nifty FMCG (down 0.71 per cent), Media (down 0.39 per cent), and PSU Bank (down 0.27 per cent).
Nifty Metal (up 0.93 per cent), Financial Services (up 0.70 per cent), and Bank (up 0.26 per cent) ended with decent gains.
5. Most active stocks in terms of volume
Vodafone Idea (113.2 crore shares), Sigachi Industries (19.24 crore shares), and GMR Airports (8.11 crore shares) were the most active stocks in terms of volume on the NSE.
6. Over 10 stocks jump over 15% on BSE
Some 11 stocks, including Nagreeka Exports, Knowledge Marine & Engineering Works, Themis Medicare, Indong Tea Company, and Lambodhara Textile, jumped over 15 per cent on the BSE.
7. Advance-decline ratio
Out of 4,289 stocks traded on the BSE, 2,059 advanced, while 2,085 declined. Some 145 stocks remained unchanged.
8. 135 stocks hit 52-week highs
Aditya Birla Capital, Bajaj Finance, and Waaree Energies were among the 135 stocks that hit their 52-week highs in intraday trade on the BSE.
9. Over 50 stocks hit 52-week lows
Some 53 stocks, including Aurionpro Solutions, Dhruv Consultancy Services, and Bhagiradha Chemicals & Industries, hit their 52-week lows in intraday trade on the BSE.
10. Nifty 50 technical outlook
Nilesh Jain, Head – Technical and Derivatives Research Analyst (Equity Research), Centrum Broking, pointed out that the Nifty surpassed its immediate resistance at 25,100 and formed a small-bodied bullish candle, reflecting continued positive sentiment.
He said a breakout from a symmetrical triangle pattern on the daily chart suggests further upside, with a conservative target of around 25,500 likely to be tested during the September series.
“The index is trading comfortably above all key short-term and long-term moving averages, while the momentum indicator MACD has already given a buy crossover above the zero line. The support base continues to rise, with the immediate support now seen at the 50-day moving average, currently placed around the 24,900 level,” said Jain.
According to Ajit Mishra, SVP of research at Religare Broking, the Nifty 50 is now approaching its previous swing high of 25,150, which may lead to some consolidation before the index advances towards the 25,250–25,500 zone.
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Disclaimer: This story is for educational purposes only. The views and recommendations expressed are those of individual analysts or broking firms, not Mint. We advise investors to consult with certified experts before making any investment decisions, as market conditions can change rapidly and circumstances may vary.
