Summary of the Day's Market Performance

• Indian equity indices closed on a strong note on September 26, with Nifty crossing 26,200 for the first time.

• Sensex ended up by 666 points at 85,836, while Nifty rose 211 points to close at 26,216.

• The BSE Midcap index ended flat, and the Smallcap index was down 0.4%.

• Markets witnessed bullish momentum throughout the day, driven by gains in metal and auto stocks, while capital goods faced some selling pressure.

• Midcaps and smallcaps underperformed compared to the benchmark indices.

Performance of Key Sectors

• Metal, Auto: Up 2% each.

• FMCG, PSU Bank: Gained 1% each.

• Capital Goods: Fell 0.6%.

Market Transactions:

• Foreign Institutional Investors (FII): ₹629.96 crore (Net Buyers)

• Domestic Institutional Investors (DII): ₹2,405.12 crore (Net Buyers)

Both FIIs and DIIs displayed strong buying interest, adding to market strength.

• Bullish Trend: Bulls dominated today's trade, with gains accumulating from the start. Auto and Metal sectors were the top contributors to the rally.

• Mid & Smallcap Underperformance: Despite the overall rally, midcap and smallcap stocks struggled, with profit-booking in select counters.

• Global Influence: Positive cues from global markets and stable economic outlooks continue to bolster sentiment in Indian markets.

ITC's market capitalization crossed ₹6.5 lakh crore for the first time after the stock hit an all-time high!

Key Stock Movements and News

• Top Gainers: Maruti Suzuki, Tata Motors, Shriram Finance, Grasim Industries, M&M.

• Top Losers: ONGC, Cipla, NTPC, Hero MotoCorp, L&T.

• ITC shares hit a record high as its market cap surpassed ₹6.5 lakh crore for the first time.

• NCLT approved the merger of IDFC Financial Holding with IDFC.

• Alkem Labs is reportedly in discussions to buy Novartis India in a deal worth around ₹2,000 crore.

• Large trade in Paytm shares: ₹328 crore equity stake changed hands, pushing the stock up by 3%.

• CDSL announced a uniform tariff of ₹3.50 per debit transaction.

• PB Fintech may explore plans to enter the healthcare sector.

• Gensol Engineering gained 3% after promoters increased their stake to 21.17%.

• Krsnaa Diagnostics rallied 4% intraday after acquiring a stake in Apulki Healthcare.

• Alkem Labs: Possible acquisition of Novartis India could be a game-changer for the company's portfolio.

• Paytm: Large equity trade and positive momentum could keep this stock in focus.

• ITC: Record high market cap positions it as a solid player with growth potential.

• Gensol Engineering: Increased promoter stake signals confidence in the company’s growth trajectory.

The Indian markets continued their upward surge, with Nifty crossing 26,200 for the first time, led by strong performances in auto and metal stocks. Though midcaps and smallcaps lagged behind, the overall bullish sentiment remained intact with support from both FIIs and DIIs.

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Disclaimer: The information provided in this newsletter is for informational purposes only and should not be considered financial advice.

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