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The stock markets reached new heights in early trading hours with both Sensex and Nifty 50 hitting all-time highs before closing flat. The Nifty 50 closed at 24,836.10 up 0.0050% or 1.25 points and with a day range of 24,774.60 low to 24,999.75 high. The BSE Sensex ended at 81,355.84 up 0.028% or 23.12 points ranging between 81,135.91 and 81,908.43
Nifty Bank also showed strength rising 0.22% to 51,406.25. This follows last week's impressive performance where Sensex gained 1,292 points and Nifty surged above 24,830. The Q1 FY24-25 results so far show revenue growth of 13.61% YOY and net profit increase of 8.12% YOY with 578 out of 4,425 companies reporting.
Divislab led the gains trading at 4,931.00 up 2.93% from its previous close of 4,790.60. The stock opened at 4,804.00 and reached a high of 4,951.00 during the day.
BPCL followed closely with its stock price at 338.40 and representing a 2.92% increase. It opened at 333.40 and hit a high of 338.95 above its previous close of 328.80.
Larsen & Toubro showed strong performance trading at 3,775.00 up 2.58%. The stock opened at 3,701.00 and reached a daily high of 3,790.00 compared to its previous close of 3,679.90
Bajaj Finserv gained 1.99% trading at 1,618.00. It opened at 1,588.15 and touched a high of 1,625.00, up from Friday's close of 1,586.45.
Mahindra & Mahindra saw a 1.98% increase, with its stock at 2,945.00. Opening at 2,900.00, it reached a high of 2,945.00 above its previous close of 2,887.80.
UltraTech Cement rose 1.93% to 11,898.10. The stock opened at 11,680.00 and hit a high of 11,940.00 compared to its last close of 11,673.05.
State Bank of India traded at 871.00, up 0.99%. It opened at 866.05 and reached a high of 889.10 above its previous close of 862.45.
Britannia Industries gained 0.84% and closed trading at 5,922.00. The stock opened at 5,898.00 and touched a high of 5,957.60 up from its last close of 5,872.80.
Maruti Suzuki saw a 0.72% increase with its stock at 12,755.00. It opened at 12,709.00 and reached a high of 12,773.70 compared to Friday's close of 12,663.70.
Reliance Industries traded at 3,038.25, up 0.67%. The stock opened at 3,023.90 and hit a high of 3,055.00 above its previous close of 3,018.05.
As Q1 results continue to get released, expect market volatility in the coming several days as the stock market finds it stable direction. Currently, it is bullish and breaking to new highs regularly but the overall outlook in the near future will be impacted by these ongoing Q1 earnings reports.
