The stock market enjoyed a strong finish on August 26, with the Nifty climbing over the 25,000 mark to close at 25,010.60, up by 187.40 points or 0.75 percent. Similarly, the Sensex rose by 631.90 points or 0.78 percent, ending the day at 81,718.11. This surge was propelled mainly by gains in the metal and IT sectors.
Amidst positive global cues, the Nifty Metal index led the gains by surging over 2 percent, making it the standout performer of the day. Key contributors to this rally included leading metal stocks such as Hindalco, Vedanta, JSW Steel, and Tata Steel, all of which saw significant upward movements.
The IT sector also showed robust performance, with major stocks like Tech Mahindra, TCS, and Wipro driving growth. Close behind was the Nifty Energy index, which increased by just over 1 percent, supported by advancements in Reliance Industries, NTPC, ONGC, and Power Grid Corp.
The banking sector contributed positively, with heavyweights HDFC Bank and ICICI Bank pushing the indices upward. The overall market sentiment was bullish with 2,075 shares advancing, although 1,791 shares declined and 138 remained unchanged.
Mid-cap and small-cap indices also experienced gains, although they slightly lagged behind the benchmark indices. These segments have significantly surpassed the Nifty’s year-to-date rise of 14 percent, reflecting a broader market uplift.
ONGC received considerable attention, closing almost 3 percent higher after announcing the commencement of gas transportation from its offshore site using an FPSO vessel. This development marks the start of oil and gas production from this new asset, contributing to the positive market sentiment.
