The Indian stock market experienced a strong rally on the first day of the week after Federal Reserve Chairman signaled a potential cut in interest rates. This shift in sentiment was evident in the heightened buying activity in IT and banking stocks.
The Nifty index managed to surpass the historic mark of 25,000 in today's trade. By the end of the session, the BSE Sensex closed up 612 points at 81,700, while the National Stock Exchange Nifty gained 187 points, closing at 25,010.
In terms of market performance, 21 out of 30 shares on the Sensex advanced, while 9 shares declined. Similarly, 32 of the 50 Nifty stocks rose, and 18 fell. Among the notable gainers were HCL Tech, which rose by 4.08%, NTPC by 3.29%, Bajaj Finserv by 2.73%, and Tech Mahindra by 2.42%. Other contributors to the upward trend included JSW Steel (2.38%), Titan (1.71%), Mahindra & Mahindra (1.26%), Tata Steel (1.20%), L&T (1.07%), and TCS (0.94%).
On the downside, the shares that declined included Kotak Mahindra Bank, which fell by 0.44%, IndusInd Bank by 0.36%, Maruti by 0.34%, HUL by 0.19%, Sun Pharma by 0.19%, and Adani Ports by 0.15%.