Stock Market Today with the Nifty rising 68 points to 23,414 and extending its gains for a fourth consecutive session. The index closed above the 23,400 mark, while the Sensex climbed 564 points to end at 74,859.
Key Highlights
- Nifty extended its winning streak to four sessions, closing 68 points higher at 23,414 on Monday.
- Sensex gained 564 points to 74,859, while pharma and FMCG stocks supported the broader market.
The Nifty Bank index gained 112 points to 56,471, while the Nifty Midcap index declined 178 points to 62,013. Buying interest was visible across pharma, FMCG and select heavyweight stocks, although IT, capital-market and some midcap stocks remained under pressure.
Sensex Today: Pharma and FMCG Stocks Lead Gains
Pharma stocks were among the key performers during Monday's session. Cohance Life gained more than 5% despite the US FDA issuing five observations for its Jaggaiahpet API unit following an inspection conducted from September 14 to 19.
Patanjali Foods surged nearly 8% after positive commentary, while Reliance Industries, ITC and HDFC Bank were among the heavyweight stocks contributing significantly to the Nifty's gains.
The Nifty FMCG index also remained strong, with Patanjali Foods, Marico, United Spirits, Emami and ITC among the notable gainers.
Stock Market Today: Key Stocks in Focus
Capital-market stocks ended lower, with BSE Ltd declining nearly 3%. Oracle Financial Services Software fell more than 8% during the session.
Meanwhile, ESDS Software gained 5%, snapping a three-session losing streak. Tega Industries surged nearly 10% and touched a fresh 52-week high after announcing an order win from Kalpataru Projects International.
Voltas and Blue Star gained up to 3% following the India Meteorological Department's rain deficit forecast. Welspun Corp and Refex also advanced on order-related developments.
Lenskart and Anupam Rasayan came under pressure after large block deals. A block trade of Rs 2,468 crore involved the sale of about 3.6 crore Lenskart shares, which made up 2.07% of the equity, in the transaction. Another block transaction worth Rs 180 crore in which 15.44 lakh shares were involved happened in the name of Anupam Rasayan.
Nifty Today–NSE IPO Subscription in Focus
The NSE IPO was a huge deal for the Indian stock market on Monday when the Rs 22,569 crore offering was taking its last day of bidding. By 1:29 PM, the subscription was 2.64 times while QIB subscribed 4.33 times, NII subscribers subscribed by 4.16 times and retail investors subscribed by 1.04 times.
The IPO is a completely offer for sale and will close on 21st September, with listing expected on 24th September.
Rupee is firming up against the USD
Indian rupee rallied by 5 paise to close at Rs 95.82 against the US dollar on Monday, from Friday's close of Rs 95.87. The currency started trading at Rs 95.81 a dollar. Market players remained on their guard about crude oil prices, developments in global monetary policy and geopolitical tensions for their effect on the domestic equities and rupee.
Also Read: Weekly Stock Market Report: Sensex & Nifty Extend Loss for Sixth Week
What to Watch in the Stock Market
Investors will continue to track global market cues, foreign fund flows, crude oil prices and developments around the NSE IPO. Sector-specific developments in pharma, FMCG, IT and capital-market stocks are also likely to remain in focus.
