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The Sensex ended the day 759.49 points, or 1.05 percent, higher at 73,327.94, and the Nifty 203.00 points, or 0.93 percent, at 22,097.50.
Despite mixed global cues, the indices started positively and hit record highs of 73,402.16 and 22,115.55. These gains were led by buying in the information technology, oil & gas, and banking.
Wipro, ONGC, HCL Technologies, Infosys, and Bharti Airtel were among the top gainers on the Nifty, while losers included HDFC Life, Bajaj Finance, Bajaj Finserv, Hindalco Industries and Eicher Motors.
Among sectors, except metal all sectoral indices ended in the green with the information technology, PSU bank, oil & gas up 1 percent each.
Broader indices touched their fresh highs during the session before closing with marginal gains as Mid and Smallcaps underperformed by ending the day with 0.68% & 0.42% higher.
The rupee strengthened to settle with a gain of 6 paise to 82.89 against the US dollar, driven by a rally in the domestic equity markets.
STOCKS TODAY
Tata Consumer Products: The company shares traded in the red as the FMCG company signed a definitive agreement to acquire a 100 percent stake in Capital Foods, the owner of Ching’s Secret and Smith & Jones, and Organic India in a phased manner.
Just Dial: Shares of Just Dial surged 1.82 percent after the company’s net profit rose 22.3 percent YoY to Rs 92 crore in Q3FY24. Operating revenue grew 19.7 percent to Rs 265 crore.
Lupin: Lupin gained a percent after the company received approval from the US FDA to market the generic of hypertension drug, propranolol hydrochloride extended-release capsules USP. The drug will be manufactured at the company’s Pithampur facility.
IRFC: Shares of IRFC rallied 16 percent to hit a record high on the back of the government’s focus on the sector, fresh capital infusion, and expectation of a strong December quarter, according to analysts. The stock has gained almost 300 percent in one year.
Ultracab: The Ultracab stock was locked in a 5 percent lower circuit for the third straight session after the promoters reduced their shareholding in the company from 59.69 percent in the August-September period to 27.89 percent in the October-December quarter.
Avalon Technologies: Shares of Avalon Technologies gained 2 percent after the company entered into a partnership with the Centre for Development of Advanced Computing (C-DAC) as part of the government’s ‘RUDRA’ program aimed at designing and manufacturing supercomputers in India.
Life Insurance Corporation India: Shares of LIC gained 3 percent, snapping its two-day losing streak. The stock gained after the company announced receiving an income tax refund of Rs 25,464 crore for interim bonuses to policyholders in the past seven assessment years.
IRB Infrastructure: The stock gained 1.3 percent after the highway infrastructure company announced it would execute concession agreements for the TOT-13 project with NHAI.