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The domestic stock market witnessed a spectacular recovery in the last hour of the day. Nifty closed above 26000 for the first time. The midcap index has broken its 3-day rally today. Nifty Bank managed to maintain the level of 54,000.
Nifty closed with gains for the fifth consecutive day. Nifty has a record closing for the fourth consecutive day. Energy, retail and metal indices closed with gains. Pressure was seen in midcap and smallcap stocks.
At what level did the market close today?
On Wednesday, the Sensex closed at 85,011 with a gain of 97 points. Nifty closed at 26,004 with a gain of 64 points. The Nifty Midcap Index closed at 60,465, down 386 points. Nifty Bank closed at 54,102 with a gain of 133 points. Nifty closed at 26,032.8 in intraday.
Which stocks saw action today?
Power Grid managed to reach record highs after the news of the National Electricity Plan being finalized by the government. This stock closed with a gain of 4% today. Heavyweight stocks like HDFC Bank and Axis Bank lifted the market today. Whereas, IT stocks have increased the pressure on the index.
FMCG stocks saw pressure for the second consecutive session today. Tata Consumer Products, Titna were included in the list of Nifty's weakest stocks. Muthoot Finance closed 3% higher after gold prices hit a new record high. EaseMy Trip slipped 20%. Today, the stock saw a block deal of ₹948.2 crore.
Zee Enterprises closed 6% higher after a positive brokerage note. Delta Corp closed 4% higher today. The board has approved the demerger of the hospitality and real estate business. Dabur closed 4% lower today after UBS downgraded its rating. IEX witnessed pressure for the second consecutive day. The stock closed 4% lower due to coupling fears and pressure on results.
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