Sensex nears 82,000, Nifty at 8-month high; ₹35 lakh crore added to m-cap in 7 sessions

Benchmark indices continued their November recovery on Wednesday, taking the Nifty 50 to its highest closing level since February 26 and bringing the Sensex within striking distance of the 82,000 mark. The rally has added nearly ₹35 lakh crore to the combined market capitalisation of BSE -listed companies over the first seven trading sessions of the month, even as investors booked profits after benchmarks retreated from their intraday highs.

The BSE Sensex closed at 81,879.40, gaining 772.75 points, or 0.95%, while the NSE Nifty 50 settled at 25,255.05, up 210.40 points, or 0.84%.

Both indices opened higher and extended gains during the morning session. The Nifty touched an intraday high of 25,424.35, while the Sensex climbed to 82,520.40. However, selling pressure through much of the afternoon dragged the indices to lows of 25,095.35 and 81,417.39, respectively. Both benchmarks recovered towards the close but ended below their opening levels and intraday highs.

PSU banks, auto stocks drive gains

Banking and automobile stocks led the sectoral rally. The Nifty PSU Bank index surged 2.94%, while the Nifty Bank advanced 1.76%, gaining 1,051 points to settle at 60,792. The Nifty Auto index rose 2.14%, while the Capital Markets index gained 1.99%.

Among Nifty 50 constituents, Mahindra & Mahindra led the gainers, rising 5.3%, followed by InterGlobe Aviation (4.33%) and Trent (3.32%). Tata Steel , BSE, Power Grid and ITC were among the other notable gainers. SBI , Axis Bank and Reliance Industries also contributed to the benchmark's advance.

In contrast, the Nifty IT index declined 0.53%. Realty, pharma and healthcare stocks also ended lower.

Market breadth favours advances; stocks in focus

Market participation remained positive, with advances outnumbering declines by around 2:1. More than 35 Nifty 50 stocks ended in the green, indicating that the gains extended beyond a handful of heavyweight counters.

Among stocks outside the benchmark, Coromandel International gained around 6% after the Cabinet approved an increase in subsidies for phosphatic and potassic fertilisers. Navin Fluorine advanced around 6% following an approval related to a key molecule, while Kalyan Jewellers surged over 8% after reporting strong Q2 results. Cochin Shipyard , meanwhile, declined around 7% after its September-quarter earnings missed estimates.

Wednesday's gains followed a positive close on Monday, while markets remained shut on Tuesday for Diwali Balipratipada. The benchmarks had ended Sunday's special Muhurat trading session lower, breaking an eight-year run of positive closes.