Stocks at record high: As many as 266 stocks, including Hindustan Unilever (HUL), Dabur, DMart, Divi's Labs, Godrej Consumer Products, Pidilite Industries and Shriram Finance, hit their fresh 52-week highs in intraday trade on BSE on Monday, September 9.
Gujarat Fluorochemicals, JK Cement, Indian Energy Exchange (IEX), Krishna Institute of Medical Sciences (KIMS) and Suven Pharmaceuticals were also among the stocks that hit their one-year highs on the BSE.
Indian stock market benchmarks ended with healthy gains, led by select banking and FMCG heavyweights. The Sensex closed 376 points, or 0.46 per cent, higher at 81,559.54, with 16 stocks in the green. The Nifty 50 rose 84 points, or 0.34 per cent, to 24,936.40.
While the benchmark Sensex ended higher, the BSE Midcap (down 0.28 per cent) and Smallcap (down 0.65 per cent) indices ended with losses as concerns over the premium valuation of these segments amid the lack of fresh triggers kept investors cautious.
Shares of Hindustan Unilever, ICICI Bank, ITC, Kotak Mahindra Bank, IndusInd Bank and Axis Bank ended as the top gainers in the Sensex index.
On the flip side, shares of Tech Mahindra, NTPC, Tata Steel, Tata Motors and Power Grid ended as the top losers.
The overall market capitalisation of the firms listed on the BSE remained flat at nearly ₹460.2 lakh crore due to losses in the midcap and smallcap segments.
The market's focus is now on the US inflation numbers, which are due out on Wednesday. August inflation prints will be a key point for the US Fed to consider before they decide the size of the rate cut next week, September 17-18.
Experts expect the market to remain volatile in the short term even though they remain positive about the medium-to-long-term prospects of the market.
"The Indian equity market has been performing robustly, driven by strong domestic consumption, resilient corporate earnings, and favourable government policies. Compared to global markets, India stands out with steady growth amid global uncertainties like inflation and recessionary pressures in major economies," said Vikram Kasat, Head - Advisory, PL Capital - Prabhudas Lilladher.
"While developed markets such as the US and Europe have faced challenges due to higher interest rates, India's market benefits from favourable demographics, rising foreign direct investments (FDI), and an expanding middle class. However, external factors like global oil prices and geopolitical tensions still pose risks,” Kasat added.
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