The Indian stock market surged to record highs amid heightened volatility, with the India VIX (Volatility Index) reaching a nine-month high. The Sensex, Nifty, and Nifty Bank all posted new record highs, contributing to the market capitalization of BSE-listed companies reaching an impressive $4.3 trillion.
The BSE-listed companies collectively achieved a market capitalization milestone of ₹361 lakh crore ($4.3 trillion), setting a new record. Notably, these companies added ₹26 lakh crore to their market capitalization in the month of December alone, showcasing significant growth.
The Sensex recorded a gain of 702 points, closing at 72,038, while the Nifty gained 213 points to settle at 21,655. The Nifty Bank witnessed a substantial rise of 557 points, reaching 48,282, and the midcap index added 171 points to finish at 45,559.
While the midcap index closed in positive territory, it relatively underperformed compared to the broader market. The Sensex reached an intra-day record high of 72,120 points, and the Nifty touched 21,676 points during the trading session.
The Nifty Bank hit a lifetime high of 48,348 points. However, the midcap index remained around 400 points away from its all-time high.
Forty Nifty stocks closed in the green, with heavyweight companies like HDFC Bank and Infosys being the top contributors to Nifty's positive performance. HDFC Bank alone accounted for nearly 50% of Nifty Bank's gains.
In the banking sector, all Nifty Bank constituents recorded gains, with HDFC, ICICI, and SBI emerging as the top gainers. Meanwhile, cement stocks experienced a rise following positive brokerage notes, with UltraTech and Dalmia emerging as the top gainers.
However, not all sectors saw positive movements. Coromandel faced a setback as operations at its Ennore plant were suspended after a gas leak incident. On the other hand, PSU banks snapped a two-day losing streak, with PNB and BoB being the top gainers.
In the healthcare sector, diagnostic stocks witnessed profit booking, leading to a 1% decline in Metropolis and Dr Lal shares. In contrast, Alkem Labs rose more than 2% on the prospect of margin expansion.
