Sensex Today Ends At Record High, Up 666 Points | Nifty Above 26,150 | 3 Reasons Why Indian Share Market is Rising

Thu, 26 Sep Closing

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After opening the day higher, Indian benchmark indices remained positive as the session progressed and ended the day on firm footing.

Indian benchmark indices BSE Sensex and NSE Nifty50 extended their northward march for another day, scaling fresh peaks before ending Thursday's trading session at record-high closing levels.

At the closing bell, the BSE Sensex stood higher by 666 points (up 0.8%).

Meanwhile, the NSE Nifty closed higher by 181 points (up 0.7%).

Maruti Suzuki, Tata Motors and M&M Steel among the top gainers today.

Cipla, ONGC and NTPC on the other hand, were among the top losers today.

The GIFT Nifty was trading at 26,363 up by 373 points at the time of writing.

For a comprehensive overview of key players in the financial sector, check out list of Fin Nifty Companies.

For impact of the Bank Nifty companies and comprehensive overview of the index, check out Equitymaster's Bank Nifty Companies list

The BSE MidCap index ended flat and BSE SmallCap index ended 0.4% lower.

Sectoral indices were trading higher with socks in metal sector and auto sector witnessing most buying speer. Meanwhile stocks in power sector and capital goods witnessed selling pressure

Bajaj Auto, Bosch and Britannia hit their respective 52-week highs today.

Now track the biggest movers of the stock market using stocks to watch today section. This should help you keep updated with the latest developments...

The rupee is trading at 83.63 against the US$.

Gold prices for the latest contract on MCX are trading 0.2% higher at Rs 75,449 per 10 grams.

Meanwhile, silver prices were trading 1% higher at Rs 92,961 per 1 kg.

Here are the three key factors drive the market's momentum.

#1 Positive Global Cues

The markets in the Asia-Pacific region rebounded on Thursday morning, with the Chinese markets expected to continue their upward momentum.

Hong Kong's Hang Seng index futures were trading at 19,336, ahead of the last close of 19,129.1. In Japan, the Nikkei 225 rose 1.7% in early trading, while the broader Topix climbed 1.2%.

#2 Oil Prices Fall

Oil prices slumped on Thursday, reversing earlier gains, on news Saudi Arabia, the world's biggest crude exporter, will give up on its price target in preparation for raising output.

Brent crude futures were down US$ 1.89, or 2.57%, to US$ 71.57 a barrel, while US West Texas Intermediate crude fell US$ 1.83 cents, or 2.63%, to US$ 67.86 per barrel as of 0740 GMT.

#3 Auto & Metal Stocks Rally

Across the sector auto stocks and metal stocks were the top gainers with over 2% gain, dragging the benchmark indices higher.

Speaking of the stock market, even though the China+1 megatrend was relatively short lived in terms of stock market gains, India's logistics boom is here to stay.

Such a boom could play out for several decades as India's manufacturing, exports and domestic consumption continue to grow.

Tanushree Banerjee, Research Analyst talks about some niche players are the hidden and indirect beneficiaries of India's logistics boom.

Tune in for more

ITC Hits Record High

In news from the FMCG sector, shares of ITC rose around 1% and hit a record high of Rs 522.45 on 26 September, taking its market capitalisation past the Rs 6.5 trillion mark for the first time ever. Meanwhile, the hotels-to-FMCG conglomerate also increased its stake in Sproutlife Foods.

Over the past three years, Sproutlife's turnover has grown from Rs 680 m in FY22 to Rs 1.1 bn in FY24.

The conglomerate announced the acquisition of 1,413 Compulsorily Convertible Preference Shares (CCPS) of Sproutlife Foods Pvt. Ltd., as part of a follow-on investment under an agreement signed in April 2023. This agreement enables ITC to fully acquire Sproutlife in stages.

With this latest infusion, ITC's shareholding in Sproutlife has risen to approximately 47.5% on a fully diluted basis, with a total investment of Rs 2.6 bn for the increased stake.

Aside from that, shares of ITC have showcased a rather tepid performance through the start of the year, gaining nearly 13% in 2024 so far.

ITC is India's biggest cigarettes & one of the largest fast-moving consumer goods (FMCG) company.

It has 78% market share in cigarettes and presence in other business segments such as staples, biscuits, and personal care products.

Why Paytm Share Price is Rising

Moving on to news from the e-commerce sector, shares of One 97 Communications Ltd, the parent company of Paytm, surged over 4% today after a significant block trade saw 0.8% equity stake in the company change hands for Rs 3.3 bn.

About 4.7 m Paytm shares were sold at an average price of Rs 701 per share. Following the trade, Paytm stock rose to Rs 713.2 on the NSE, up from its previous close of Rs 690, pushing the company's market capitalisation to Rs 454 bn.

Paytm shares have been on an uptrend, with the stock up 63% over the past six months, significantly outperforming the Nifty 50 index, which gained 18% during the same period.

With improving market conditions and the potential easing of US interest rates, Paytm, along with other new-age tech companies like Zomato and MakeMyTrip, continues to attract investor interest.

Crest Ventures' Sales Projection

Moving on to news from the finance sector, Crest Ventures shares skyrocketed 10% in the afternoon session on 26 September after the firm announced it has nine projects in the works.

Out of the nine projects announced, six of the projects have a combined sales expectation of Rs 59.1 bn. This is over two times higher than the market capitalisation of this realty player, which clocks in at Rs 16 bn.

The firm operates in the Financial Services as well as the Real Estate sectors. It has five ongoing realty projects in various stages of development across geographies.

The group has successfully developed and delivered over 12 million square feet in the form of residences, commercial buildings, malls and townships in Mumbai, Chennai, Kolkata and Raipur.

For the quarter ended June 2024, the firm posted a total income of Rs 651.6 bn, as against Rs 246.1 bn in the same quarter in the previous year. The profit clocked in at Rs 454.5 bn for the first quarter of the current fiscal, up from Rs 82.3 bn last year.

To know what's moving the Indian stock markets today, check out the most recent share market updates here.

For information on how to pick stocks that have the potential to deliver big returns, download our special report now!

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INDICESBSE (Rs 0 to 1)BSE (Rs 1 to 2)BSE (Rs 2 to 4)BSE (Rs 4 to 10)BSE (Rs 10 to 20)BSE (Above Rs 20)BSE - AllBSE-30BSE-100BSE-200BSE-500BSE AutoBSE BankexBSE Capital GoodsBSE Consumer DurablesBSE FMCGBSE HealthcareBSE ITBSE MetalBSE Oil & GasBSE PSUBSE TeckBSE RealtyBSE PowerBSE A GroupBSE B GroupBSE Mid-CapBSE Small-CapBSE Basic MaterialsBSE Consumer DiscretionaryBSE IndustrialsBSE UtilitiesBSE Sensex 50BSE Sensex Next 50BSE Bharat 22BSE 150 MidCapBSE 250 SmallCapBSE 250 LargeMidCapBSE 400 MidSmallCapBSE AllCapBSE LargeCapBSE SmallCap SelectBSE 100 LargeCap TMCBSE InfraBSE ManufacturingBSE CPSEBSE Private BankBSE Diversified FinancialsBSE MomentumBSE Low VolatilityBSE QualityBSE Enhanced ValueBSE Divident StabilityS&P BSE IPOBSE SMEIPOBSE 100 ESGBSE CarbonexBSE GreenexNSE (Rs 0 to 10)NSE (Rs 10 to 20)NSE (Above Rs 20)NSE - AllNSE-50NSE ITNSE Nifty Midcap 50NSE JR. NiftyNSE Bank NiftyNIFTY Next 50NIFTY 100NIFTY 200NIFTY 500NIFTY MidCap 100NIFTY SmallCap 250NIFTY SmallCap 50NIFTY SmallCap 100NIFTY LargeMidCap 250NIFTY MidSmallCap 400NIFTY AutoNIFTY Consumer DurablesNIFTY FinanceNIFTY FMCGNIFTY MediaNIFTY MetalNIFTY PharmaNIFTY Private BankNIFTY PSU BankNIFTY RealtyNIFTY Oil & GasNIFTY SME EmergeNIFTY CommoditiesNIFTY CPSENIFTY EnergyNIFTY India ConsumptionNIFTY InfraNIFTY MNCNIFTY PSENIFTY Serv SectorNIFTY100 Liquid 15NIFTY Midcap Liquid 15NIFTY Midcap 150 Quality 50NIFTY50 Equal WeightNIFTY100 Equal WeightNIFTY100 Low Volatility 30NIFTY100 Alpha 30NIFTY Alpha 50NIFTY Dividend Opportunities 50NIFTY High Beta 50NIFTY Low Volatility 50NIFTY200 Quality 30NIFTY 500 Value 50NIFTY 100 Quality 30SECTORSAgricultureAirlinesAluminiumAsset Management CompaniesAutomobilesAuto AncillariesBanks (Private)Banks (PSU)BankingCementChemicalsDefenceDiagnosticsDronesEngineeringElectric VehicleElectric Vehicle BatteryEnergy SourcesESGEthanolFertilizersFintechFMCGFoodGreen HydrogenHotelsInfrastructureInsuranceInvestment and FinanceInvITIT (Large)IT (Others)LogisticsMediaMetalMiningIndia's Big Tech StocksIndian PharmaMNC PharmaPSUPaintPaperPlasticPowerRating AgenciesReal EstateREITsRenewable EnergyRetailingSemiconductorShippingSteelSugarSupply ChainTelecomTextilesTravel Support Services

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