Six Nifty 50 Stocks Soar to Record Highs in Monday's Trading Session
Six Nifty 50 companies reached unprecedented highs during Monday's trading session. State Bank of India led with a 6% monthly gain and 15% YTD return, touching ₹913.65. Bajaj Finance hit ₹1,086.50 with an 8% monthly gain and 59% YTD return. Bharti Airtel reached ₹2,057.00, HDFC Bank ₹1,020.00, Bajaj Finserv ₹2,149.50, and Apollo Hospitals ₹8,065.00. The surge spans banking, finance, telecommunications, and healthcare sectors, indicating a broad-based rally in the Indian equity market.
*this image is generated using AI for illustrative purposes only.
In a remarkable display of market strength, six Nifty 50 companies reached unprecedented highs during Monday's trading session, showcasing robust performance across various sectors. This surge highlights the positive sentiment in the Indian stock market, with investors showing confidence in these blue-chip stocks.
Record-Breaking Performances
The following table summarizes the performance of the six Nifty 50 stocks that hit all-time highs:
| Company | Intraday High | Monthly Gain | YTD Return |
|---|---|---|---|
| State Bank of India | ₹913.65 | 6.00% | 15.00% |
| Bajaj Finance | ₹1,086.50 | 8.00% | 59.00% |
| Bharti Airtel | ₹2,057.00 | 4.80% | 30.00% |
| HDFC Bank | ₹1,020.00 | 4.00% | 13.00% |
| Bajaj Finserv | ₹2,149.50 | 3.50% | 36.00% |
| Apollo Hospitals | ₹8,065.00 | 3.55% | 9.00% |
Sector-wise Breakdown
Banking and Financial Services
State Bank of India (SBI) led the pack with an impressive 6.00% gain over the past month and a 15.00% year-to-date (YTD) return. The banking giant touched an intraday high of ₹913.65, demonstrating strong investor confidence. Notably, SBI has yet to report its September quarter results, but most analysts maintain a 'Buy' recommendation on the stock.
HDFC Bank also showed robust performance, reaching ₹1,020.00 and posting 4.00% monthly and 13.00% yearly gains.
In the non-banking financial sector, Bajaj Finance and Bajaj Finserv both achieved new highs. Bajaj Finance touched ₹1,086.50, marking its fourth consecutive day of gains with an impressive 8.00% monthly advance and a staggering 59.00% YTD return. Bajaj Finserv hit ₹2,149.50, boasting 3.50% monthly and nearly 36.00% yearly gains.
Telecommunications
Bharti Airtel reached a new peak of ₹2,057.00, with a 4.80% monthly increase and an impressive 30.00% YTD return, positioning it among the best-performing Nifty 50 stocks this year.
Healthcare
Apollo Hospitals touched ₹8,065.00, marking its fifth consecutive day of gains. The healthcare provider recorded a 3.55% monthly increase and a 9.00% YTD advance.
Additional Insights
While not directly related to the record highs, it's worth noting that SBI recently made a significant move in the bond market. According to the latest LODR (Listing Obligations and Disclosure Requirements) data, SBI has successfully raised ₹7,500 crore through the issuance of Basel III compliant Tier 2 bonds. These non-convertible, taxable, redeemable, subordinated, and unsecured bonds carry a coupon rate of 6.93% and are set to mature on October 20, 2035, with a call option after 5 years.
This capital raising effort by SBI underscores the bank's proactive approach to strengthening its capital base and complying with regulatory requirements, which may contribute to investor confidence in the stock.
The record-breaking performance of these six Nifty 50 stocks across diverse sectors suggests a broad-based rally in the Indian equity market. Investors and market watchers will be keenly observing these stocks for potential further upside and any impact on the overall market sentiment.
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