Sensex Jumps 564 Points, Nifty Ends Above 23,400; Pharma, Realty Stocks Lead Gains

Stock Market Today, September 21: The domestic equity market indices ended higher on Monday, September 21, with the Sensex gaining over 560 points and the Nifty reclaiming the 23,400 mark, helped by buying across select heavyweight and defensive stocks.

The BSE Sensex rose 564.03 points, or 0.76%, to close at 74,858.99. The index opened at 74,535.18 and touched an intraday high of 74,987.40 and a low of 74,454.18.

The Nifty advanced 67.90 points, or 0.29%, to 23,414.30, compared with its previous close of 23,346.40. The index moved between 23,314.80 and 23,466.80 during the session.

Buying was visible across several sectors, with Nifty Pharma emerging as the top sectoral gainer, rising 1.16%. Nifty Realty gained 1.14%, while Nifty Healthcare advanced

1.10%. Nifty FMCG rose 0.95% and Nifty Oil & Gas gained 0.53%.

On the other hand, Nifty MidSmall Financial Services fell 0.81%, while Nifty Financial Services Ex-Bank declined 0.57%. Nifty Metal also ended 0.61% lower. Nifty IT slipped 0.08%.

Among broader indices, Nifty 100 rose 0.25%, while Nifty 200 gained 0.14%. Nifty Midcap 100 declined 0.29% and Nifty Midcap 150 fell 0.37%. The Nifty Smallcap 100 ended 0.07% lower.

Among Sensex constituents, Ultratech Cement was the biggest gainer, rising 4.11%, followed by HCL Technologies at 3.42%, Eternal at 2.59%, Titan at 2.49% and ITC at 1.93%. Asian Paints gained 1.70%, HDFC Bank 1.49%, TCS 1.39%, Trent 1.33% and LT 1.20%.

On the losing side, Bharti Airtel declined 1.93%, followed by Power Grid at 1.15%, Infosys at 0.97%, Adani Ports at 0.72% and Tata Steel at 0.62%.

The India VIX declined 0.83% to 11.29, from 11.39 in the previous session, indicating relatively subdued near-term market volatility.

Vinod Nair, head of research at Geojit Investments, said, “Improving sentiment ahead of the upcoming US-China talks, renewed hopes of diplomatic engagement between the US and Iran at the UN, and the decline in oil prices and bond yields have provided relief to investors. The easing of concerns around inflation and energy costs has supported a broad-based recovery across sectors and supported overall market sentiment.”

Furthermore, the earnings cycle appears to be turning positive, coupled with relatively attractive valuations in select pockets of the market, and continues to support a constructive medium-term outlook for equities. However, in the near term, geopolitical developments and interest-rate expectations will remain key variables influencing investor behaviour and market direction, he added.