Metal, auto stocks drive mkts
Business Standard|September 27, 2024
Supportive fund flows, Chinese stimulus keep bullish sentiment intact; indices hit new highs
SUNDAR SETHURAMAN
Metal, auto stocks drive mkts

Benchmark Sensex rallied 666 points to close at a fresh high on Thursday fuelled by a rally in auto and banking stocks, amid gains in the global markets following China's stimulus blitz.

The BSE Sensex jumped 0.78 per cent to settle at 85,836.12 on the monthly derivatives expiry day. The Nifty 50 index closed at 26,216, up 212 points or 0.8 per cent.

The total market capitalisation of BSE listed stocks rose by ₹1.9 trillion, to end the session at ₹477 trillion. The Nifty finished with gains on all sessions, barring six, this month.

The latest gains were underpinned by a rally in auto majors after reports suggested Karnataka would offer incentives to clean mobility, including a steep tax cut for hybrid cars.

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