Stock market highlights: Sensex adds 769 pts, Nifty at 24,853; FMCG, IT, banks gain; pharma dips

The stock market closed on a high note today, with the Sensex jumping 769 points to reach a significant milestone, while the Nifty settled at 24,853. This upward momentum was largely driven by strong performances in the FMCG, IT, and banking sectors. Despite the overall positive market sentiment, the pharmaceutical sector experienced a dip, highlighting a mixed day for investors. On the Bombay Stock Exchange (BSE), the trading session saw remarkable activity, with 98 stocks reaching their 52-week highs. This surge reflects growing investor confidence in various sectors, particularly FMCG and IT, which have shown resilience and growth potential. However, not all stocks shared in the success, as 23 stocks touched their 52-week lows, indicating challenges in specific areas of the market. Sectoral indices painted a varied picture, with Nifty FMCG leading the gains, underscoring the sector's robust performance amid changing consumer dynamics. IT and banking stocks also contributed significantly to the market's rise, buoyed by positive earnings reports and favorable economic indicators. Conversely, the pharmaceutical sector faced headwinds, pulling back slightly as investors weighed regulatory challenges and market uncertainties. Overall, today's session underscored the dynamic nature of the stock market and the diverse factors influencing investor decisions.

— Authored by Next24 Live