Nifty gains for eighth consecutive session, surpasses 25,000 level on path to new record high

The BSE Sensex soared 0.75 per cent reaching a level of 81,698. The Nifty 50 index climbed 0.76 per cent to the 25,010 level.

Most Asian indices followed the overnight strength from the US markets, while European markets are displaying mixed investor sentiment. In contrast, Indian benchmark indices started the trading session with strong momentum and showed resilience throughout the day.

The BSE Sensex soared 0.75 per cent reaching a level of 81,698. The Nifty 50 index climbed 0.76 per cent to the 25,010 level. 

Within the Nifty 50, HCL Technologies, Hindalco Industries and NTPC were among the leading gainers, whereas Apollo Hospitals, Hero Motocorp and Adani Ports & Special Economic Zone were among the market draggers.

The BSE Mid-Cap Index posted a notable gain of 0.66 per cent, while the BSE Small-Cap Index, despite opening higher, closed the session with a 0.20 per cent rise.

All sectoral indices were trading in the green, except for Nifty Media and Nifty PSU Bank, with metals, IT, and realty leading the gains.

Market Update at 2:40 PM: The frontline indices held onto their gains and outperformed the broader indices, which declined in the later trades. At 2:40 pm, the BSE Sensex climbed 0.85 per cent reaching a level of 81,773. The Nifty 50 index soared 0.83 per cent to the 25,028 level. 

Within the Nifty 50, Hindalco Industries, HCL Technologies and Oil & Natural Gas Corporation were among the leading gainers, whereas Apollo Hospitals, HDFC Life Insurance and Hero Motocorp were among the market draggers.

With 1,486 shares rising and 1,211 shares declining on the NSE, the advance-decline ratio remained in favour of advances.

All sectoral indices were trading in the green, except for Nifty PSU Bank, with metals, IT, and realty leading the gains.

Market Update at 12:30 PM: Domestic indices were trading at intraday highs, driven by strong gains in the IT, oil & gas, and power sectors. At 12:30 pm, the BSE Sensex surged 0.78 per cent reaching a level of 81,722. The Nifty 50 index added 0.75 per cent to the 25,008 level. 

Within the Nifty 50, Oil & Natural Gas Corporation, NTPC and Hindalco Industries were among the leading gainers, whereas Apollo Hospitals, Grasim Industries and Eicher Motors were among the market draggers.

With 1,527 shares rising on the NSE and 1,154 shares declining, the advance-decline ratio remained in favour of advances. Honasa Consumer Products, BLS International Services and Gujarat State Petronet were the Top Gainers among small-cap stocks.

Market Update at 11:20 AM: Headline indices maintained their today’s early trade strength, with the BSE Sensex climbing over 700 points to hit an intraday high and the Nifty 50 reaching the 25,000 level later in the session.

At 11:20 am, the BSE Sensex surged 0.67 per cent reaching a level of 81,632. The Nifty 50 index gained 0.64 per cent to the 24,982 level. 

Within the Nifty 50, Oil & Natural Gas Corporation, Wipro and Hindalco Industries were among the leading gainers, whereas Apollo Hospitals, Adani Enterprises and Bharat Petroleum Corporation were among the market draggers.

With 1,480 shares gaining and 1,144 shares declining on the NSE, the advance-decline ratio favoured advances.

In terms of sectoral performance, Nifty IT, Nifty Consumer Durables and Nifty Oil & Gas were the best performers, while Nifty PSU Bank and Nifty Healthcare experienced the notable decline.

Market Update at 9:40 AM: Indian benchmarks demonstrated the expected strength in early trades today, starting the week on an upbeat note.

At 9:40 am, the BSE Sensex soared 0.66 per cent reaching a level of 81,617. The Nifty 50 index climbed 0.60 per cent to the 24,970 level. Within the Nifty 50, Wipro, LTIMindtree and Oil & Natural Gas Corporation were among the leading gainers, whereas Apollo Hospitals, Hero Motocorp and Bharat Petroleum Corporation were among the market draggers.

The broader market also experienced optimistic investor sentiment, with mid-cap and small-cap indices rising in line with the main indices. With 1,562 shares rising on the NSE and 744 shares declining, the advance-decline ratio strongly remained in favour of advances.

In terms of sectoral performance, all indices were trading notably higher except for healthcare, pharma, and FMCG, while IT, financial services, and banks led the gains.

Pre-Market Update at 8:30 AM: Wall Street indices closed significantly higher on Friday as investor sentiment improved following Federal Reserve Chair Jerome Powell's remarks on monetary policy easing, stating, "The time has come for policy to adjust." The Nasdaq Composite Index climbed 1.47 per cent, the S&P 500 surged 1.15 per cent, and the Dow Jones Industrial Average gained 1.14 per cent.

Major Asian markets gained strength as investors anticipated upcoming interest rate cuts. The GIFT Nifty was trading at a premium over the previous close of Nifty futures, suggesting a positive opening for India's leading indices.

The dollar declined after Fed gave a clear signal that the long-awaited U.S. interest rate cut is expected next month. Oil prices rose after Israel and Hezbollah exchanged rocket fire and air strikes on Sunday, heightening concerns about potential supply disruptions if the conflict were to intensify.

On August 23, both foreign institutional investors (FIIs) and domestic institutional investors (DIIs) were net buyers, with FIIs purchasing shares worth Rs 1,944 crore and DIIs making a significant inflow of Rs 2,896 crore.