NIFTY Rises 1% to 23,869.55, SENSEX Gains 1% to 78,918.12 After 5-Day Slump

Stock Market News: NIFTY Surges to 23,869.55, SENSEX Peaks at 78,918.12 Amid Market Recovery 

After a five-day losing streak, the Indian share market today experienced a significant rebound with both NIFTY and SENSEX registering over a 1% increase. NIFTY rose from its previous session’s close of 23,738.20, while SENSEX climbed above 78,041.59, driven by robust buying in banking and financial stocks. The Indian Share Market has bounced back by the percentage change driven by strong buying in baking and financial stocks.

The recovery aligns with a global market rally, as major indices in the US and other Asian markets posted gains. The value of the US dollar went low slightly and the investors boosted their confidence across the market as the 5-day downward slope was overdone.

With both the indices recovering, Tech Mahindra has been leading the SENSEX as the top gainer by going the day high of Rs 1708.40. HDFC Bank saw a change of over 1.20% bringing its stock value to Rs 1793.95. Other stocks such as ITC, JSW Steel, Trent, SBI, and Titan Company see a surge of over 1% each. The India Cements surged 11% and the UltraTech Cement sees a surge from its previous closing after CCI approved UltraTech’s plan to acquire a majority stake in the India Cements. 

JSW and Tata Steel also have added to the points by going high as the government launched an investigation into the import of steel.

Let’s check down at the share market live updates to have better clarity on stocks performing well today.

Trent

Trent is the only stock that is currently leading with a gain of over 2% from its previous closing of 6,831.55. The stock has been trading all day and has reached the highest day value of Rs 7,070.00 and is currently trading at an LTP of 6981.75. 

IndusInd Bank 

The IndusInd Bank has seen a surge in its stock price by 1.88% from its previous closing of Rs 929.45 per stock price. This bank has been leading the most in the banking sector on the stock exchange. The stock went on a day high of Rs 948 and is currently running at an LTP of Rs 946.6 and is expected to touch the day’s high once again by the end of the day.

ITC

ITC in the diversified industry has also generated over 1.6% profit in their stock prices from its previous closing of Rs 464.65 per stock price. The stock has been trading the whole day and has gone to a day high of Rs 477.70 and is currently trading at an LTP of Rs 472.82 per stock price.

JSW steel

The JSW steel share price has been rising over 1.50% from its previous day’s closing of Rs 917.35. The stock went to a day high of Rs 950.95.70 and is at an LTP of Rs 929.60 per stock price.

HDFC Bank

HDFC Bank has also seen a surge in its stock price by 1.35% from its previous closing of Rs 1771.50 per stock price. This bank has contributed the most to pull up the stock indices. The stock went on a day high of Rs 1,806.00 and is currently running at an LTP of Rs 1795.70. 

Contribution to Pulling the Indices Up

Conclusion:

The Indian market's sharp recovery, bolstered by strong performances in banking, cement, and steel stocks, marks a hopeful end to its losing streak. With global cues remaining positive, investor sentiment appears rejuvenated for the sessions ahead.