Nifty 25,790 [+375.15] 1.48
Sensex 84,544 [+1,359] 1.63
Stock Market Today: On September 20, 2024, the Sensex surged to 84,544, gaining 1.63%, while the Nifty reached 25,790, up 1.48%. Over 250 stocks hit 52-week highs, reflecting strong investor sentiment and broad-based market strength.
Reasons for Market Up
- Strong performances in major US and Asian markets, following a 50 bps rate cut by the Fed, boosted investor sentiment in India, encouraging buying.
- The US Federal Reserve’s recent rate cut and projections for further reductions have increased risk tolerance among investors, supporting equity markets.
- Across-the-board buying, particularly in mid and small-cap stocks, contributed to the robust performance of the Sensex and Nifty, reflecting overall market confidence.
- Healthy buying in banking stocks, particularly ICICI Bank and HDFC Bank, supported gains in the benchmark indices, with the Nifty Bank index hitting a record high.
Top 3 Stocks That Gained The Most
Nifty
M&M: +5.32
ICICI Bank: +4.47
JSW Steel: +3.69
Sectors of the Day
Nifty Realty: +3.05
Nifty Auto: +1.88
Nifty Metal: +1.65
IPO Performance
- Western Carriers (India) Limited IPO shares are expected to be listed on the NSE SME platform around September 23, 2024.
- Deccan Transcon Leasing Limited IPO shares are expected to be listed on the NSE SME platform around September 23, 2024.
- Popular Foundations Limited IPO shares are expected to be listed on the NSE SME platform around September 23, 2024.
Key Events to Track For 23rd 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.
