Leaders Online: On the occasion of Gudhi Padwa 2024, the Indian stock market hit a new record on Tuesday (9th). Sensex touched 75,124 in today's trading session. Nifty touched a new high of 22,768 for the first time. But the market rally faded in the afternoon trade and both indices were flat. The Sensex ended marginally lower by 58 points at 74,683. While the Nifty fell by 23 points to close at 22,642. (Stock Market Closing Bell)
After hitting record highs earlier in the day, gains in Sensex and Nifty faded somewhat in the afternoon and traded flat as heavyweights like Titan, Reliance Industries, Asian Paints and TCS booked profits. Initially, the market was supported by strong buying in IT and auto shares to reach record highs.
Sector wise Media, Auto, Capital Goods, FMCG declined by 0.5-1 per cent. While metals and realty rose by 0.5 percent each. BSE Midcap and Smallcap indices closed at negative levels.
Top Gainers, Top Losers
Shares of ICICI Bank, Infosys, Bajaj Finance, M&M, Tata Steel remained bullish on the Sensex. While Titan, Reliance, Tech Mahindra, Asian Paints, Ultratech Cement, IndusInd Bank shares fell.
Apollo Hospitals, Hindalco, ICICI Bank, Bajaj Finserv, Infosys remained the top gainers on Nifty. Titan, Coal India, Hero Motocorp, Reliance, Asian Paints were the top losers.
Slowdown in US market, boom in Asia
A sluggish condition was seen in the US stock market on Monday. Because now the attention of investors has turned to the inflation data to be announced on April 10. Due to this, investors took a cautious stance. The Dow Jones Industrial Average 30 index in the US market closed down 0.03 percent. The S&P 500 was down 0.04 percent. Meanwhile, the Nasdaq Composite closed up 0.03 percent. But the effect of sluggish condition in the US stock market was not reflected in the Indian market. Sensex and Nifty traded at record highs. (Stock Market Closing Bell)
MSCI's index of Asia-Pacific shares outside Japan rose 0.6 percent. While Japan's Nikkei 225 index rose by 1.1 percent. Meanwhile, most of the major indices in Asia traded positive except for China's Shanghai Composite. Hong Kong's Hang Seng and Singapore's FTSE Strait Times Index continued to gain.
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