Institutional investors in the Indian market have bought shares close to ₹6000 crore in the Indian market today, data from exchanges showed. According to the data available on NSE, foreign institutional investors bought shares worth ₹3260 crores while domestic institutional investors bought shares worth ₹2691 crore. Both Sensex and Nifty hit record highs in trade today, with the Nifty ending the session at 25,151, up almost 100 points. The Sensex ended 349 points higher at 82,134 today.
The Sensex reached an intraday record high of 82,286, while the Nifty touched 25,193, driven by strong performances from heavyweights like Reliance Industries, ITC, Tata Motors, and Bajaj Finserv.
However, the rally wasn’t broad-based as midcap stocks underperformed. The Midcap Index closed in the red, which tilted market breadth in favor of declines.
Reliance Industries was a key contributor to the Nifty’s gains, rising up to 2% following positive commentary at its Annual General Meeting (AGM) and the announcement of a bonus issue plan. The FMCG Index also bounced back, snapping a two-day losing streak, with Britannia and ITC emerging as top gainers on the Nifty.
Bajaj twins, Bajaj Finance and Bajaj Finserv, were among the top gainers, each rising by up to 3%. Meanwhile, Network18 and TV18 saw a surge of 4% and 8%, respectively, after CCI approved the merger between Reliance and Disney.
In the IT sector, Sonata Software jumped 5% after securing a multi-million dollar IT outsourcing contract. Max Estates also gained over 2% following reports of a ₹150 crore fundraising plan.
Vodafone Idea rose 2% ahead of a crucial Supreme Court hearing on the AGR case scheduled for August 30. On the downside, IndiGo ended 2% lower after block deals worth $1 billion, with Rakesh Gangwal likely being the seller.
Genus Power Infrastructures hit a 5% upper circuit after securing a ₹3,610 crore order. Additionally, power financiers PFC and REC moved higher as UBS initiated coverage on both stocks with a “Buy” rating.
