Sensex, Nifty Close at Record Highs; Nifty on Verge of 13-Day Winning Streak

Mumbai: Indian equity indices surged to new record highs on Monday, driven by positive market sentiment. The Sensex closed 194 points higher, or 0.24%, at 82,559, while the Nifty gained 42 points, or 0.17%, to end at 25,278. During the session, both indices touched all-time highs, with the Sensex reaching 82,725 and the Nifty hitting 25,333.

Despite the overall gains, the broader market trend was negative, as the Bombay Stock Exchange (BSE) recorded 1,782 advancing shares against 2,256 declines, with 149 stocks remaining unchanged.

Among the Sensex constituents, Bajaj Finserv, Bajaj Finance, HCL Tech, IndusInd Bank, ITC, UltraTech Cement, Axis Bank, Infosys, Asian Paints, SBI, Titan and Tech Mahindra were the top performers. On the other hand, Tata Motors, NTPC, M&M, Wipro, Bharti Airtel, L&T, Power Grid, and TCS emerged as the major laggards.

The midcap and smallcap segments experienced selling pressure. The Nifty Midcap 100 index fell by 134 points, or 0.23%, to close at 59,152, while the Nifty Smallcap 100 index dropped 62 points, or 0.33%, to end at 19,244.

Sector-wise, IT, PSU banks, financial services, FMCGs and private banks were the top gainers, while the auto, pharma, metal, realty, media, and infrastructure sectors faced declines.

Foreign Institutional Investors (FIIs) continued their buying spree, purchasing equities worth ₹5,316 crore on August 30, while Domestic Institutional Investors (DIIs) offloaded equities worth ₹3,198 crore. The market volatility index, INDIAVIX, rose 5% to 14.06.

Market experts noted that the positive momentum was driven by the accumulation of quality large-cap stocks and a series of large bulk deals by FIIs. If the market closed positive, it would mark a record 13-day winning streak for the Nifty, highlighting the overall bullish sentiment.