The Indian stock market continued its upward trajectory, with both the SENSEX and NIFTY 50 scaling new peaks. The benchmark SENSEX at the time of writing was trading at 73,651.35, up 655.04 points, 0.90%, while the NIFTY 50 was trading at 22,123, gaining 0.92%. The market’s optimism was fueled by robust corporate earnings, sustained foreign inflows and a positive global cue.
SENSEX and NIFTY 50
The SENSEX opened strong at 73,149.34, breaching its previous day’s close of 72,996.31. The index has witnessed an intraday high of 74,190.31 and a low of 73,120.33 as of writing. The index records a 52-week high of 74,245.17. The broader NIFTY 50 index mirrored the SENSEX’s performance, opening at 22,163.60, slightly above its previous close of 22,123.65. The index has since then touched an intraday high of 22,516.00 and a low of 22,163.60 so far.
REC Ltd
REC Ltd, a non-banking financial company dedicated to financing power sector projects, has witnessed a surge of 1.2% in its share price. The stock, as of writing, trades at Rs 450.80, gaining Rs 5.30 from its previous close. The company’s strong financial performance and robust demand for power sector financing contributed to the uptick. With a market capitalization of Rs 1.2 lakh crore, REC Ltd remains a prominent player in the industry.
Bharat Heavy Electricals Ltd (BHEL)
Shares of BHEL, a leading integrated power plant equipment manufacturer, has rallied 1.8% to close at Rs 247.20. The stock has touched an intraday high of Rs 253.35 and a low of Rs 245.60. BHEL’s diverse product portfolio, catering to various sectors including power, transportation and defence, has been a key driver of its growth. The company’s market capitalization stands at Rs 86,076.6 crore.
Power Finance Corp Ltd (PFC)
Power Finance Corp Ltd, a financial institution dedicated to financing the power sector, witnessed a 1.3% increase in its share price. The stock currently trades at Rs 390.20, up Rs 4.95 from its previous close. PFC’s strong financials and consistent support to power sector projects have contributed to its growth trajectory. The company’s market capitalization currently stands at Rs 1.3 lakh crore.
Punjab National Bank (PNB)
Punjab National Bank, a prominent public sector bank, saw its shares rise 1.3% to Rs 124.35. The stock reads an intraday high of Rs 125.10 and a low of Rs 123.00. PNB’s focus on expanding its retail banking and digital initiatives has been well-received by investors. The bank’s market capitalization currently stands at Rs 1.4 lakh crore.
Trent Ltd
Trent Ltd, a leading retail chain operator, witnessed a 1.9% increase in its share price to read Rs 3,948.45 as of writing. The stock has so far touched an intraday high of Rs 3,974.95 and a low of Rs 3,876.65. Trent’s diverse portfolio of brands, spanning apparel, footwear and accessories, has contributed to its strong performance. The company’s market capitalization stands at Rs 1.4 lakh crore.
The Indian stock market’s resilience and the broader rally across sectors reflect the nation’s strong economic fundamentals and investor confidence. As companies continue to report robust earnings and the government’s reform measures take effect, the market is poised for further growth in the coming days.
