Stock Market Today: Top gainers and losers in market today, September 23, 2024; Bajaj Auto, ONGC, Wipro and more

The Sensex and Nifty ended half a percent higher on September 23, driven by optimism following last week’s Federal Reserve rate cut, which boosted risk-on sentiment among investors. Banking, auto, and energy stocks were the key contributors to the rally, while the IT sector lagged behind.

At the close, the Sensex rose by 384 points or 0.5 percent to finish at 84,928, while the Nifty 50 climbed 137 points to 25,928. During the day, the Sensex reached an all-time high of 84,980, and the Nifty hit a milestone of 25,956.

Most sectors recorded gains, with Nifty Auto, Nifty Oil & Gas, Nifty Realty, and Nifty PSU Bank rising between 1-3 percent. Nifty Bank gained 0.5 percent, led by strong performances from HDFC Bank, SBI, and Kotak Mahindra, reaching a record high of 54,197.

On the downside, Nifty IT was the only sector to close in the red, slipping 0.6 percent. Infosys, TCS, and Tech Mahindra led the losses in the sector, which has faced profit booking after posting strong gains of 12-13 percent from June to August. So far this month, Nifty IT has declined by more than 2 percent.

Among individual gainers on the Nifty 50, SBI Life, Hero MotoCorp, ONGC, Bajaj Auto, and M&M rose by 2.7-3.5 percent. On the flip side, Tech Mahindra, IndusInd Bank, Divis Labs, ICICI Bank, and Eicher Motors dropped 1-2 percent, making them the worst performers.

The volatility index, India VIX, surged 8 percent to 13.8, reflecting increased market uncertainty.