Market Wrap: Nifty and Sensex Surge Over 1% as Cables and Telecom Sectors Shine
By ScanX News Team
Indian stock markets closed on a strong note Thursday, with Nifty 50 and BSE Sensex both gaining over 1%. Nifty 50 closed at 25,549.00, up 1.21%, while Sensex finished at 83,755.87, up 1.21%. Cables sector emerged as the top performer with a 10% gain, followed by Telecom Equipment & Infra Services at 7.30%. Castings, Forgings & Fasteners sector faced the steepest decline at -2.78%. Market breadth remained slightly positive with 2,200 stocks advancing and 2,152 declining out of 4,352 traded.
*this image is generated using AI for illustrative purposes only.
Market Overview
The Indian stock markets concluded on a strong note on Thursday, with both the NSE Nifty 50 and BSE Sensex registering significant gains of over 1%. The Nifty 50 closed at 25,549.00, up 304.25 points or 1.21% from its previous close. Similarly, the BSE Sensex finished at 83,755.87, marking an impressive rise of 1,000.36 points or 1.21%.
Sectoral Performance
The day's trading session witnessed a mixed bag of sectoral performances, with some sectors surging while others faced downward pressure.
Top Performing Sectors
- Cables (Avg. Per Change: 10.00%)
- Telecomm Equipment & Infra Services (Avg. Per Change: 7.30%)
- Packaging (Avg. Per Change: 2.37%)
- Steel (Avg. Per Change: 1.67%)
- Metals & Mining (Avg. Per Change: 1.46%)
The Cables sector emerged as the star performer, recording an impressive average percentage change of 10%. Telecom Equipment & Infra Services also showed robust growth, while Packaging, Steel, and Metals & Mining sectors rounded out the top five gainers.
Underperforming Sectors
- Castings, Forgings & Fasteners (Avg. Per Change: -2.78%)
- Capital Goods - Electrical Equipment (Avg. Per Change: -1.53%)
- Diamond, Gems and Jewellery (Avg. Per Change: -1.45%)
- Engineering Services (Avg. Per Change: -1.41%)
- Transport Services (Avg. Per Change: -0.85%)
On the flip side, the Castings, Forgings & Fasteners sector faced the steepest decline, followed by Capital Goods - Electrical Equipment and Diamond, Gems and Jewellery sectors.
Market Breadth
The overall market breadth remained slightly positive, indicating a balanced trading session:
| Category | Number of Scrips |
|---|---|
| Total Traded | 4,352 |
| Positive | 2,200 |
| Negative | 2,152 |
Conclusion
The Indian stock markets demonstrated resilience on Thursday, with both the Nifty 50 and Sensex posting gains of over 1%. The Cables and Telecom sectors led the rally, while some manufacturing and service-oriented sectors faced headwinds. The market breadth remained marginally positive, reflecting a day of balanced trading activity across various sectors.
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