Stock Market Highlights: The Indian stock markets closed higher today, buoyed by the decisive victory of the BJP-led alliance in Maharashtra, which bolstered investor sentiment. Financial stocks led the charge, with the Nifty Bank index zooming 1,072 points to 52,208, outperforming the 1% gains seen in the Sensex and Nifty. Heavyweights such as HDFC Bank, ICICI Bank, and Reliance Industries played a pivotal role in driving the Nifty’s gains. HDFC Bank hit a record high and emerged as the top contributor to both the Nifty and the Nifty Bank indices.
Among sectoral highlights, PSU stocks, including REC, IRFC, and BEL, posted gains of up to 4%. Adani Group stocks saw a mixed close, with Adani Ports rising 3%, while Adani Energy fell 3%. Realty stocks also performed well, with Mahindra Lifespace Developers climbing 4% after announcing the second phase of its industrial parks project in Tamil Nadu.
Midcap stocks saw robust gains, with the Midcap Index rising 884 points to 55,901. The broader markets saw 42 out of the 50 Nifty stocks ending in the green. BEL, ONGC, Shriram Finance, and L&T emerged as the top gainers. In contrast, IT stocks lagged, with Infosys, HCLTech, and Tech Mahindra closing in the red.