The Indian stock market ended higher on September 9, largely powered by strong gains in Infosys. The IT giant announced that its board would consider a buyback of fully paid-up equity shares on September 11, and the news sent the stock surging. Infosys alone added over 200 points to the Sensex, which closed 314 points, or 0.39%, higher at 81,101.32. The Nifty 50 also gained 95 points, or 0.39%, to settle at 24,868.60.
Infosys shares rose nearly 5%, making it the day’s top performer in the Nifty 50. The optimism spilled over to other tech majors, with TCS, Tech Mahindra and HCL Tech among the biggest contributors to the gains. The Nifty IT index jumped almost 3% as every component ended in the green.
Other sectors also chipped in, though modestly. Pharma, healthcare and FMCG indices ended in positive territory, while Nifty Bank and financial services closed flat. Realty and oil and gas stocks slipped about 0.30% each.
Among the Nifty 50 stocks, Infosys, Dr Reddy’s Laboratories (up 3.5%) and Wipro (up 2.81%) topped the gainers’ list. On the losing side, Trent fell 1.74%, Eternal dropped 1.20% and UltraTech Cement slipped 0.81%.
On the BSE, nearly 20 stocks, including Franklin Leasing and Finance, Smruthi Organics, and ITDC, jumped more than 12%. At the same time, 144 companies, such as Maruti Suzuki, Mahindra & Mahindra and Eicher Motors, hit fresh 52-week highs, while 58 stocks, including Refex Industries and Praj Industries, fell to new lows.
Vodafone Idea once again dominated trading volumes with over 80 crore shares changing hands on the NSE.
The overall market capitalisation of BSE-listed firms climbed by about ₹1 lakh crore in a single session, rising to nearly ₹454 lakh crore. Analysts noted that momentum indicators such as the RSI have turned positive, hinting at short-term bullishness. However, with the Nifty edging closer to the 25,000 mark, a key resistance zone, the next few sessions could test whether the rally can sustain.
{By arrangement with livemint.com}
