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Stock Market Today: Nifty Gains 148 Points & Sensex Rises 384 Points

On September 23, 2024, the Sensex and Nifty hit record highs for the third consecutive day, driven by rallies in PSU banks and strong performances across sectors, with upcoming IPOs & key economic data to watch.
Stock Market Today: Nifty Gains 148 Points & Sensex Rises 384 Points
  • Nifty         25,939 [+148.10] 0.57
  • Sensex    84,928 [+384.30] 0.45

Stock Market Today: On September 23, 2024, the Sensex surged to 84,928, gaining 0.45%, while the Nifty reached 25,939, up 0.57%. PSU banks rallied, and over 250 stocks hit 52-week highs, reflecting strong investor sentiment and market momentum.

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Reasons for Market Up

  • Strong global cues, including the U.S. Federal Reserve’s 50 bps rate cut, boosted investor confidence, encouraging buying in Indian markets.
  • Significant rallies in sectors like PSU banks, realty, and auto helped lift overall market sentiment, contributing to gains across major indices.
  • Ongoing Foreign Portfolio Investor (FPI) inflows supported the upward momentum, driving sustained demand for Indian equities amid positive market conditions.

Top 3 Stocks That Gained The Most 

Nifty 

Bajaj Auto: +3.66

M&M: +3.26 

ONGC: +3.06

Sensex 

M&M: +3.18

SBI: +2.35

Bharti Airtel: +2.26

Sectors of the Day 

Nifty PSU Bank: +3.41

Nifty Realty: +2.23

Nifty Oil & Gas: +1.89

IPO Performance

  • Kalana Ispat Limited IPO’s allotment is scheduled for September 24, 2024.
  • Phoenix Overseas Limited IPO’s allotment is scheduled for September 24, 2024.
  • Envirotech Systems Limited IPO shares are expected to be listed on the NSE SME platform around September 24, 2024.

Also Read: Upcoming Adani IPOs: Multiple Adani IPOs to Launch

Key Events to Track For 24th September 2024 

  • Monitor international markets for any significant developments or trends that could impact Indian markets. 
  • Keep an eye on scheduled economic data releases such as GDP figures, industrial production data, or inflation reports, as they can influence market sentiment and direction. 
  • Track earnings announcements from major companies across sectors, to gauge the health of the corporate sector and anticipate market reactions. 
  • Stay informed about any policy announcements or decisions by the Indian government, as they can impact market sentiment and specific industries. 
  • Stay updated on global events as they can affect Indian markets and investor sentiment.
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