The Indian equity benchmark indices ended at record closing highs Monday led by gains in IT, realty and auto stocks amid mixed global cues. The Sensex gained 166.96 points, or 0.29 percent, to end at 58,296.91, while the Nifty closed 54.20 points, or 0.31 percent, higher at 17,377.80.
Broader markets aided market sentiment, with the Nifty Smallcap100 index jumping 1.09 percent, and the Nifty Midcap100 index rising 0.41 percent.
Among sectors, most gains were seen in realty, IT, media, auto and metal indices, while banks, FMCG and pharma indices ended in the red.
Markets started the week on a positive note in continuation to the prevailing uptrend and ended marginally higher. Markets are steadily inching higher, tracking favourable global markets and supportive domestic sentiment. We may see some consolidation ahead and it would be healthy however there’ll be no shortage of trading opportunities on the stock-specific front," said Ajit Mishra, VP - Research, Religare Broking.
Considering the recent momentum, Mishra says it is prudent to look for strong counters to accumulate on dips.
Here are key stocks that moved the most today:
The share price of energy-to-telecom conglomerate Reliance Industries rallied 1.52 percent to end at Rs 2,424.55 apiece after the company's subsidiary Reliance Strategic Business Ventures Ltd acquired 2.28 crore equity shares of Strand Life Sciences Private Ltd for a cash consideration of Rs 393 crore.
A further investment of up to Rs 160 crore is expected to be completed by March 2023. The total investment will translate into 80.3 percent of equity share capital in Strand on a fully diluted basis, RIL said.
The stock of RIL hit a fresh record high of Rs 2,479.85, rising over 3 percent intraday
Mahindra & Mahindra Financial Services share price ended 1.72 percent higher at Rs 168.10 apiece on the BSE after the company reported a strong business update for August with disbursements rising 57 percent YoY to Rs 2,150 crore, while its collection efficiency improved to 97 percent from 95 percent in July.
State-run miner Nalco's shares jumped 5.75 percent to close at Rs 99.25 after reports suggested Guinean special forces ousted Guinea's President in a coup on Sunday. The stock crossed the Rs 100 level in intraday trade for the first time since April 2011.
Analysts say the political turmoil in Guinea, which has the world’s largest bauxite reserves, and supply disruptions could push up alumina prices. Guinea accounts for about 22-25 percent of the global production of bauxite.
Welspun India share price jumped 8.75 percent to close at Rs 137.35 after the company received USFDA approval for its 3-ply surgical mask.
Certified by BIS and CE already, this product from Welspun India Ltd has got all required certifications to supply to global markets including critical medical uses, it said.
Indian Railway Catering and Tourism Corporation
Indian Railway Catering and Tourism Corporation (IRCTC) shares ended 4.88 percent higher at Rs 3009.50 apiece on the BSE. The stock rallied more than 6 percent intraday to cross the Rs 3,000 mark and hit a record high of Rs 3,041.20.
Ahluwalia Contracts (India) share price gained 2.47 percent to Rs 393.40 after the company secured new order aggregating to Rs 890 crore.