Markets @11: Stock market indices hit record highs for fifth consecutive day

For the fifth consecutive day, major stock indices opened at record highs, buoyed by enthusiastic participation from foreign and domestic retail investors. However, some selling pressure briefly pulled the markets back.

Sectors like auto, media, metal, consumer durables, and public sector banks witnessed declines in the morning session.

The Gujarat state government announced the merger of its companies—GSPC, GSPL, and GSPC Energy—into Gujarat Gas Limited. Additionally, the gas transmission business of Gujarat Gas will be spun off and listed separately under the name GSPL Transmission Limited. Gujarat Gas shares surged by 13%.

Automobile stocks like Hero MotoCorp, Bajaj Auto, and Maruti saw gains following the release of August sales figures, while Tata Motors, Mahindra, and Ashok Leyland experienced declines.

RailTel, which recently received the Navratna status, rose by 5%, while SJVN climbed 3%.

RailTel shares surge 

The Indian rupee opened flat today, trading at 83.86 per US dollar, before moving to 83.89.

Gold prices fell to $2,494 per ounce in the global market, leading to a drop of ₹200 per sovereign, bringing the price to ₹53,360 in Kerala.

Crude oil continued its downward trend, with Brent crude falling to $86.24 per barrel.