Nifty hits 52-week-high as FMCG, auto stocks drive market rally
What's the story
India's benchmark indices, the Nifty 50 and Sensex, witnessed a strong rally on Friday. The Nifty 50 index crossed the 25,700 mark to hit its 52-week high in trade. The surge was fueled by strong buying in FMCG and auto stocks. However, losses in the IT and metals sectors limited the overall gains. Sensex gained 484.53 points, closing at 83,952.19, while Nifty was trading at 25,709.85 points.
Information
Bank Nifty hits new record high
The Nifty 50 index is now less than 2% away from its all-time high of 26,216.05 reached in September 2024. Meanwhile, the Bank Nifty index hit a new record high of 57,830.20 on the back of gains in blue-chip banking stocks.
Market sectors
Sectoral performance
The sectoral performance was mixed, with FMCG, auto, and healthcare stocks leading the gains. The Nifty FMCG index rose 1.33%, while Nifty Auto and Nifty Healthcare gained 0.69% and 0.79%, respectively. Consumer durables and financials also saw moderate gains. However, IT and media stocks were under pressure with Nifty IT down by 1.64% and Nifty Media falling by 1.45%.