Indian Markets reach new highs: Sensex touches 83,184, Nifty 25,445

On September 16, the stock market hit new record highs, with the Sensex reaching 83,184 and the Nifty touching 25,445 during the trading session. Despite a slight dip later, the Sensex ended the day at 82,988, up 97 points, while the Nifty gained 27 points to close at 25,383. Energy, auto, metal, and banking stocks led the rally, with NTPC being the top performer on the Nifty, while FMCG, financial, and IT stocks witnessed a decline. Bajaj Finance emerged as the biggest loser.

Bajaj Housing Finance shares saw a massive listing gain, rising 114% from its issue price of ₹70 to ₹150 on both the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). Cross Limited listed its shares at ₹240, matching its issue price, while Tolins Tyres listed at ₹227 on BSE, a modest 0.45% gain from its issue price of ₹226, and at ₹228 on NSE, up 0.9%.

The market's upward momentum was supported by ICICI Bank, L&T, HDFC Bank, NTPC, Axis Bank, and Infosys. On the other hand, Bajaj Finance, Hindustan Unilever, Bajaj Finserv, and SBI dragged the market down. In the US, the Dow Jones gained 0.72%, closing at 41,393 on September 13, while Nasdaq increased by 0.65%, closing at 5,626, and the S&P500 closed with a 0.54% gain.

Two Initial Public Offers (IPOs) also opened on September 16: Arcade Developers Limited and Northern Arc Capital Limited, with bids open until September 19. Both companies' shares are scheduled for listing on September 24.

Additionally, Fabtech Technologies, a Mumbai-based engineering solutions provider, has filed its draft red herring prospectus (DRHP) with SEBI, seeking to raise funds through an IPO. The offering will consist entirely of a fresh issue of 1.20 crore equity shares, each with a face value of ₹10.

Last week, on September 13, the Sensex dropped by 71 points to close at 82,890, and the Nifty saw a 32-point decline, finishing at 25,356.

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