Indian stock market Nifty 50 hits all-time high, led by banking sector gains

From Benzinga: 2024-06-25 06:46:17

Nifty 50 closed at 23,721.30, up 0.78%, hitting an all-time high of 23,754.15. Shriram Finance saw the biggest gain of 3.73% to ₹2989.85. Axis Bank and ICICI Bank also performed well with gains of 3.53% and 2.38% respectively. HDFC Bank gained 2.33% and crossed ₹13 lakh crore market cap.

HDFC Life also increased by 2%. On the downside, BPCL was the biggest loser, dropping 2.93%. Eicher Motors and Power Grid fell by 1.97% and 1.67% respectively. Asian Paints and Tata Steel also recorded declines during the session.

Ajit Mishra from Religare Broking noted that the market had a slight dip before rallying, mainly driven by banking and IT sectors. However, realty, metal, and energy sectors ended in the red. Deepak Jasani from HDFC Securities highlighted the record-breaking performance of Nifty, driven by banking stocks amidst mixed performances of other sectors.



Read more at Benzinga: HDFC, ICICI, Axis Bank Power Nifty 50 To Another All-Time High