- Sensex up 78 points, closing at 80,881; Nifty gains 71 points to 24,770.
- Banking stocks, including Axis Bank and Bandhan Bank, drive late recovery.
- Nykaa hits 52-week high with a 10% gain, while Tech Mahindra faces losses.
In a volatile trading session, Indian stock indices managed to recover significantly in the last hour.
The Sensex and Nifty 50 both ended at their day’s highs, with the Sensex rising by 78 points to 80,881 and the Nifty closing up by 71 points at 24,770.
Sensex and Nifty Rally in Final Hour: Key Market Movements and Sector Highlights
Despite the positive close, certain sectors saw mixed results. Tech Mahindra was the top loser on the Nifty following a brokerage downgrade, while Nykaa reached a 52-week high with a substantial 10% gain. FMCG stocks, insurance stocks, and certain midcap stocks also showed notable activity, reflecting a broad-based market movement.
In contrast, the Nifty Bank index ended in the red, down 118 points at 50,686, despite recovering more than 300 points from its intraday low. Major banks such as ICICI Bank and HDFC Bank were notable drags on the index, though their negative impact was mitigated by other banks’ performance.
Several sectors demonstrated varied performances today. FMCG stocks, including ITC and HUL, were among the top contributors to the Nifty’s gains. Insurance stocks continued their upward trend, with HDFC Life and SBI Life posting significant gains over recent days.
Nykaa made headlines by hitting a 52-week high and recording a 10% intraday gain. Meanwhile, Tech Mahindra was the biggest Nifty loser following a downgrade by a brokerage. The day also saw Bandhan Bank and RBL Bank rise significantly, continuing their positive trend from the past few days.
Today’s market activity highlights the volatility and rapid shifts within the Indian stock indices, driven by key sectors and stock performances. The last-hour recovery underscores the market’s resilience and the significant impact of sector-specific movements.
“The market is driven by the belief that the worst is over,” reflecting today’s late rally in the Indian stock market as indices rebounded strongly, led by key banking stocks.
