Sensex extends rally to 6th day, ends 333 pts higher; Nifty reclaims 19,800

CLOSING BELL ON SEPTEMBER 08, 2023: L&T, Airtel and banks were the major movers on Friday; the S&P BSE Sensex has rallied 1,767 points in the last six straight trading sessions.

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Stock Market Highlights: Equity markets extended their winning-run into sixth straight trading session on Friday. Larsen & Toubro, Bharti Airtel and banks were the major movers, while in the broader market power and rail-related stocks ended with solid gains.

The S&P BSE Sensex touched a high of 66,767, and thereafter pared some gains but still finished 333 points stronger at 66,599. The BSE benchmark index has now rallied 1,767 points in the last six trading sessions.

The NSE Nifty hit a high of 19,867, and was barely 0.6 per cent shy from its record peak of 19,992. The Nifty eventually settled with a gain of 93 points at 19,820.

Among the Sensex 30-shares, NTPC soared nearly 3 per cent. Tata Motors and Larsen & Toubro gained nearly 2 per cent each. Bajaj Finserv, Bharti Airtel, Reliance and Titan were the other prominent gainers. 

On the other hand, ITC, UltraTech Cement, Tech Mahindra and Tata Steel were few of the visible losers on the Friday.

Bank stocks got a boost in intra-day deals after the RBI said it would discontinue the incremental Cash Reserve Ratio (CRR) in a phased manner starting September 09. The BSE Bankex was up 0.6 per cent, with Federal Bank, AU Bank, HDFC Bank and SBI are the lead gainers. READ MORE

The BSE MidCap and SmallCap indices scaled fresh record highs and finished with gains of 0.9 per cent and 0.4 per cent, respectively.

Primary Market Update

EMS IPO sailed through on Day 1 of the offer period. As of 03:30 PM the IPO saw bids up to 3.5 times from retail investors and 3.7 times from the HNIs. 

Jupiter Life Line Hospitals was subscribed up to 63.4 times on the final day of the offer period. Retail quota was subscribed 7.2 times; HNIs 34.3 times and QIBs 187.3 times.

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First Published: Sep 08 2023 | 07:52 AM IST

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