FINAL TRADE: Nifty rebounds near 24,500; Nifty Bank rallies 1,000 points as PSU banks and metals shine

Indian markets reached their intraday peak today, with both Sensex and Nifty rallying as the BSE Midcap and Smallcap indices climbed 0.5 percent each. Major sectors also saw gains; banking, realty, and capital goods led with a one to two percent rise, while pharma, IT, and auto witnessed declines of 0.5 to one percent.

Adani Enterprises reported a strong Q2 performance, posting a net profit of Rs 1,741.7 crore, providing further market momentum. On the Nifty, financial heavyweights like SBI, Bharat Electronics, SBI Life Insurance, HDFC Life, and ICICI Bank emerged as top gainers, fueling gains in the banking sector.

Conversely, Tata Motors, Dr. Reddy's Labs, Maruti Suzuki, Hero MotoCorp, and Bajaj Auto led the declines. As midday trading continues, market sentiment remains cautious amidst mixed sectoral performance.