The record run continued on Dalal street on September 25 as the Nifty index managed to close above 26,000 for the first time led by energy, metal and media names.
At close, the Sensex was up 255.83 points or 0.30 percent at 85,169.87, and the Nifty was up 63.75 points or 0.25 percent at 26,004.15.
BSE Sensex and Nifty touched fresh high of 85,247.42 and 26,032.80, respectively.
After a negative start, the market witnessed rangebound movement throughout the session, however, the last half an hour buying helped the market to climb to a new high.
Also Read - SEBI's September 30 Board meet expected to have big-ticket announcements on derivatives, FPIs
Power Grid Corp, NTPC, Axis Bank, Grasim Industries, Bajaj Finserv were among the top gainers on the Nifty, while losers are LTIMindtree, Tech Mahindra, Tata Consumer, Tata Motors and Titan Company.
BSE Midcap and Smallcap indices down 0.5 percent each.
On the sectoral front, power, metal, media and realty indices up 0.5-3 percent, while FMCG, PSU Bank and IT were down 0.5-1 percent.
Nearly 300 stocks touched their 52-high on the BSE, including, Bajaj Finserv, Blue Star, Bosch, Campus Active, Ceat, eClerx Services, Firstsource Solutions, Hindalco Industries, Ipca Labs, M&M, Mahanagar Gas, Metropolis, NTPC, PCBL, Power Grid Corp, Tata Communications, Trent, TVS Motor, among others. Click to view full list
Outlook for September 26
Aditya Gaggar Director of Progressive Shares
For major part of the session, the Index remained rangebound but a sudden spurt in the last hour of the trading session propelled the Index to end the session at 26,004.15 with gains of 63.75 points. On the sectoral front, Media was the top performer followed by Energy and Realty while PSU Banking and IT were the major laggards. Mid and Smallcaps corrected by 0.63% & 0.42% and underperformed the Frontline Index.
As indicated yesterday, the Index has virtually tested its immediate support of 25,850 and reversed to form a bullish candle on the daily chart suggesting a trend continuation to rally till 26,200 while the support level is shifted higher to 25,950.
Rupak De, Senior Technical Analyst, LKP Securities
The Nifty made another lifetime high as bulls seemed in no mood to back down, despite a weak start. The sentiment is likely to remain positive as long as it remains above 25,900, where aggressive put writing was visible.
Technically, the Nifty has sustained above its very short-term moving average. Furthermore, no reversal is visible in the momentum indicator. Therefore, we might witness a range-bound to positive move in the near term. Resistance on the higher end, is seen at 26200-26250.
Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol.com are their own and not those of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
