Domestic benchmark indices clinched all-time closing highs on Wednesday with the Nifty 50 ended 0.8 percent higher at 17,519.45 and the Sensex closing at 58,723.20, up 0.8 percent. The indices also clocked lifetime highs intraday at 17,532.7 and 58,777.1, respectively. Gains in information technology, financial services, telecom, oil and gas stocks drove the headline indices towards scaling lifetime highs. "Bulls were back in action and both benchmark indices closed at fresh record highs on renewed buying support, which was missing in the last few sessions. After a firm opening, benchmark Nifty cleared the important resistance of 17450," said Shrikant Chouhan, Executive Vice President, Equity Technical Research, Kotak Securities. Here are key stocks that moved the most on September 15:
Automobile stocks climbed higher after the government approved the Production-linked Incentive scheme for the sector. Barring MRF and TVS Motor Co, all constituents on the Nifty Auto index closed higher. Nifty Auto ended nearly 1 percent higher.
Barring Bharat Petroleum Corporation, shares of oil explorers like Oil & Natural Gas Corporation, Oil India and Indian Oil Corporation surged 1-4 percent following the rise in global crude oil prices. Higher crude oil prices lead to higher realisation for oil explorers and help shore up their profitability, said analysts.
Telecom stocks: Shares of Bharti Airtel, Reliance Industries, Vodafone Idea and Tata Communications surged 0.5-5 percent on Wednesday. The S&P BSE Telecom index rallied over 4 percent after the Cabinet approved a relief package for the telecom sector.
ZEEL scrip ended down 2 percent at Rs 255.95 as profit-taking crept in after the recent up move in shares of the media company. Earlier today, the stock had risen over 10 percent and hit a 52-week high at Rs 295.15, as key investors buying a stake in the company had cheered investors.
NOCIL: Shares of the rubber chemical maker closed nearly 4 percent higher at Rs 304.30 as the likely imposition of anti-dumping duty on imported rubber chemicals boosted business prospects for the company.
Ramkrishna Forgings shares ended nearly 4 percent higher at Rs 1,048 after it secured an export order of Rs 25 Crore from North America.
PDS Multinational Fashions shares rose 5 percent to Rs 1,359.95 after the company acquired a 50 percent stake in UK-based Filkor Ltd.
Cyient stock ended close to 7 percent at Rs 1,111.40 after the company said it is expanding its digital solutions portfolio for the aerospace industry with PPAP4Aero. PPAP4Aero is a global AS9145 Supplier PPAP Compliance software and services framework for enabling an intelligent supply chain.