Sensex tops 84,000, Nifty 50 at one-year high ahead of Muhurat Trading on Diwali
Wipro and Infosys share prices fell 4.5% and 1.8%, respectively, after declaring their Q2 results. Reliance Industries gained 0.9% before declaring its own.
The BSE Sensex has topped the 84,000-mark even as the broader NSE Nifty 50 rose to a one-year high ahead of Muhurat Trading for Samvat 2082 on Diwali.
At 12:11 pm, the NSE Nifty 50 was 0.69% higher at 25,762.45 points—the highest since 1 October 2024—while BSE Sensex added 0.72% to 84,068.64. Both the indexes fell about 0.2% at open. The equity benchmarks are at three-month highs and now sit less than 3% from their peaks in September 2024.
Ten of the 16 major sectors logged gains. The broader small-caps advanced 0.2%, while mid-caps shed 0.1%.
The Nifty IT index dropped 1.3%, with Wipro Ltd. and Infosys Ltd. slipping 4.5% and 1.8%, respectively, after declaring their second-quarter results. Reliance Industries and ICICI Bank Ltd. rose 0.9% and 0.6% respectively, while HDFC Bank Ltd. gained 0.4%.
The stock market is witnessing a bullish consolidation following a recent rally, and ahead of the results of ICICI Bank, HDFC Bank on Saturday and Reliance on Friday.
“Good results from HDFC Bank and ICICI Bank can support the market and if Reliance also joins the rally, after its quarterly results, the market can sustain the momentum further,” VK Vijayakumar, chief investment strategist at Geojit Investments, told Reuters.
Stocks In Focus
- Asian Paints Ltd. rose 5% to emerge as the top percentage gainer on Nifty 50, helped by a drop in oil prices — a key input cost for paintmakers.
- Nestle India Ltd. climbed 1.2%, after gaining 4.5% Thursday on reporting a rise in sales and volume growth in the September quarter.
- Zee Entertainment Enterprises Ltd. fell 3% after reporting a sharp drop in second-quarter profit.
Track latest updates on Sensex and Nifty today, here.
