The Indian stock market closed on a strong note on Thursday, with Sensex and Nifty today hitting their highest levels since early July. Supported by IT and pharma stocks, benchmark indices managed to sustain gains despite mixed global cues.
The Nifty 50 ended 93 points higher at 25,424, holding firmly above the 25,400 mark, while the Sensex surged 320 points to close at 83,014. Meanwhile, the Nifty Bank index gained 234 points to 55,727, and the Midcap index rose 225 points to finish at 59,073, reflecting broad-based market momentum.
Sensex and Nifty Today: Pharma Stocks Shine
Pharma counters were among the top contributors, with most stocks closing in the green.
- Sun Pharma gained 2%, emerging as a top Nifty gainer.
- Glenmark Pharma rose more than 2% after positive updates on a cancer drug.
- Biocon rallied 4% on receiving a crucial drug approval.
- However, Cohance slipped 6% after US FDA observations.
Insurance stocks also attracted strong buying, with HDFC Life climbing over 2%.
IT Sector Supports Market Gains
The Nifty IT index climbed 1%, aided by positive sentiment after the US Federal Reserve announced a 25-basis-point rate cut.
- Poonawalla Fincorp surged 13% after fresh capital infusion from promoters.
- HFCL jumped 3% after exiting the F&O ban list.
Other Major Market Movers
- Page Industries fell over 2% after HSBC maintained a “reduce” rating.
- IRM Energy extended its winning streak, rising 34% in just four sessions.
- Urban Company added another 2%, continuing Wednesday’s gains.
Market breadth remained neutral with the advance-decline ratio at 1:1.
Key Highlights of Sensex and Nifty Today
- Sensex closed at 83,014, up 320 points
- Nifty 50 settled at 25,424, up 93 points
- Nifty Bank index gained 234 points to 55,727
- Midcap index advanced 225 points to 59,073
- Pharma and IT sectors were top contributors
- Broader markets moved in line with benchmark indices
Disclaimer:
The information provided in this blog is for educational and informational purposes only. It does not constitute investment advice, a recommendation, or an offer to buy or sell any financial instruments. Stock market investments are subject to market risks. Past performance is not indicative of future results. Readers are advised to consult a qualified financial advisor before making any investment decisions. The author and publisher are not liable for any losses or damages arising from the use of this information.
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