Sensex Today | Stock Market Highlights: Sensex hit 85,762 and Nifty closed at a record 26,325, led by PSU and metal stocks like Coal India and NALCO. ITC fell over 13%, while IDBI Bank jumped 10 percent on financial bid reports.
Broader markets moved in line with benchmarks, with the Nifty Bank and Midcap indices also hitting record highs, each rising about 1%. Market breadth stayed firmly positive, with an advance-decline ratio of 3:1.
Gains were broad-based, with all sectors except FMCG ending higher. PSU stocks led the rally, supported by strong buying in PSU banks and power names. Coal India surged 7% after opening up e-auctions to foreign participants, while metal stocks extended their winning streak as aluminium prices hit $3,000 on the LME, lifting stocks like NALCO.
Power and finance-linked names such as SJVN, IREDA, PFC and REC posted sharp gains, while IDBI Bank jumped 10% on reports related to financial bids.
On the flip side, ITC extended losses for a second straight session, sliding over 12% amid concerns around the excise duty hike.
Indian markets posted gains for the second straight week. The Sensex and Nifty rose about 1% each, while the Nifty Bank and Midcap indices advanced nearly 2%.
Metal stocks emerged as the biggest winners, with NTPC, Tata Steel, JSW Steel, Coal India and Hindalco among the top Nifty gainers. ITC was the biggest loser, down over 13%.