FINAL TRADE: Nifty surpasses 20,000 for first time, settles at 19,996; Sensex ends at 67,127, up 528 pts

Stock market today: The 11th of September, 2023, belonged to the bulls of Dalal Street, hands down!

The benchmark index Nifty finally touched the coveted 20,000 mark during the fag-end of the session and hence scripted history. The index hit a high of 20,008.15 before settling at 19,996.35 levels, up 176 points, or 0.89 per cent. The bulls had been in the driver's seat since opening, and there was no looking back for them. The S&P BSE Sensex topped the 67,000 mark to settle at 67,127.08 levels, up 528 points, or 0.79 per cent. All sectoral indices participated in the rally.

The Nifty index took 50 trading sessions to reach the 20,000 mark from 19,000, which was hit on June 28, 2023.

In the Nifty 50 basket, 46 stocks advanced and only 4 declined. Nifty Mid Cap 100 and Small Cap 100 were up over 1 per cent at the close.

Nifty Bank ended at 45,570.7, up 0.92 per cent.  

"Nifty has finally managed to touch the much-anticipated 20,000 mark in its second attempt post-July 2023. Robust flows from local investors amidst mixed flows from foreigners have helped Nifty achieve this landmark. Successful achievements recently in space and foreign diplomacy by India have boosted sentiments for Indian stocks generally in an era when the global situation is still shaky. Smallcap and midcap stocks have run up quite sharply, and in some cases, unjustifiably so. A review of asset allocation and booking some profits or raising some cash is advised," said Dhiraj Relli, MD & CEO, of HDFC Securities. 

NIFTY 50 STOCKS 

Adani Enterprises, Adani Ports, Axis Bank, Apollo Hospitals, and Power Grid were the major gainers. On the flip side, Coal India, Bajaj Finance, ONGC, and L&T were the top losers.

BUZZING STOCKS

ITI Limited’s shares hit the upper circuit after the company reported that it has introduced its own branded Laptop and Micro PC named ‘SMAASH’.

Among railway stocks, IRCON International shares hit the upper circuit of 20 per cent, and Rail Vikas Nigam was up over 16 per cent at close after global leaders announced a multinational rail and port deal linking the Middle East and South Asia on Saturday on the sidelines of the G20 summit in New Delhi.

SJVN shares hit the upper circuit after its subsidiary SJVN Green Energy signed a power purchase agreement with Bhakra Beas Management Board for an 18 MW solar power project.

JSW Energy stock settled over 9 per cent higher after reports suggested that private equity investors TPG, Tokyo Electric Power Company (Tepco), and Brookfield are in advanced talks to buy a stake in JSW Neo Energy.

Natco Pharma shares closed over 7 per cent lower after the company announced that it is a defendant in an antitrust lawsuit filed in the United States.

GLOBAL MARKETS 

World stock prices were mostly higher on Monday as investors awaited an update on US inflation and China's latest economic data.

Benchmarks fell in Hong Kong and Tokyo but rose in Shanghai, Paris, Frankfurt, and London. Oil prices were mixed. A recent surge in oil prices has added to worries that inflation may not be waning as much as hoped for in the U.S. and other major economies. 

That could lead the Federal Reserve and other central banks to keep interest rates higher for longer, which would hurt prices for shares and other investments.

Germany's DAX gained 0.7 per cent to 15,846.97, and the CAC 40 in Paris was up 0.9 per cent at 7,308.46. 

In London, the FTSE 100 added 0.8 per cent to 7,539.30.

The future for the S&P 500 was up 0.4 per cent, while that for the Dow Jones Industrial Average gained 0.3 per cent.

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