Nifty settles at record closing high of 20,000, Sensex up 528 pts

Nifty settles at record closing high of 20,000, Sensex up 528 pts

Ira Singh
11 Sep’23

The Indian equity benchmark indices continued their winning run on the seventh straight session on Monday with Nifty closing at a record high.

At close, the Sensex was up 528.17 points or 0.79 percent at 67,127.08, and the Nifty was up 176.40 points or 0.89 percent at 19,996.35.

Stocks and Sectors
Adani Ports,Adani Enterprises, Apollo Hospitals, Axis Bank and Power Grid Corporation were the top gainers on the Nifty , while losers included Jio Financial, Coal India, ONGC, Bajaj Finance and L&T.

“Nifty has finally managed to touch the much anticipated 20,000 mark in the second attempt post-July 2023. Robust flows from the local investors amidst mixed/negative flows from foreigners have helped Nifty achieve this landmark. Successful achievements recently in space and foreign diplomacy by India has boosted sentiments for Indian stocks generally in an era when the global situation is still shaky,” said Dhiraj Relli, MD & CEO, HDFC Securities.

On the sectoral front,all the indices ended in the green with power, auto, bank and metal up 1-2 percent each, while realty, healthcare, FMCG and Information Technology added 0.5 percent each.

The BSE midcap and Smallcap indices hit fresh 52-week highs with a gain of 1 percent and 0.7 percent, respectively.

On 11 Sep’23,the Indian rupee settled 1 paisa lower tp close at 83.03 against the U.S. dollar on Monday, as positive cues from domestic equity markets failed to allay investors’ concerns over elevated crude prices.

Experts Take:
Market experts have recommended six stocks to buy for Monday-Titan, ICICI Bank, Quick Heal, Sumito Chemical, Tata Power, Landmark Cars.