Sensex rebounds nearly 100 points to hit lifetime high; Nifty scales record intra-day level

Sensex hits lifetime high, Nifty near record peak on foreign fund inflows, energy, utility, banking stock gains.

Equity benchmark index Sensex rebounded nearly 100 points to hit a lifetime closing high on Monday (September 16, 2024), while the broader Nifty ended just shy of its record peak, propelled by bargain hunting in energy, utility and banking stocks amid sustained foreign fund inflows.

The 30-share BSE Sensex climbed 97.84 points or 0.12% to settle at a new record peak of 82,988.78. During the day, it jumped 293.4 points or 0.35% to hit a fresh lifetime intra-day high of 83,184.34.

The NSE Nifty rose 27.25 points or 0.11% to settle at 25,383.75, over 5 points lower than its previous record. During the day, the benchmark gained 89.2 points or 0.35% to hit a new intra-day high of 25,445.70.

“The domestic market traded in a narrow range with a positive bias as the participants are keenly awaiting the Fed’s decision this week. The weakness in the U.S. job market and benign inflation are pointing at a slew of rate cuts on the table.

“The inflow of foreign money and an expectation of stability in domestic growth may keep sentiment optimistic,” Vinod Nair, Head of Research, Geojit Financial Services, said.

NTPC was the biggest gainer on the Sensex chart, rising 2.44%, followed by JSW Steel, Larsen & Toubro, ICICI Bank, Axis Bank, Nestle, Mahindra & Mahindra and Tata Steel.

Bajaj Finance declined over 3%. Hindustan Unilever, Bajaj Finserv, Adani Port and Asian Paints were the other laggards.