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The Indian stock market experienced a positive day on October 18, 2024, with the Nifty index closing at 24,749.85, reflecting an increase of 0.42%. The Sensex also mirrored this trend, closing 0.27% higher at 81,006.61, marking a gain of 218.14 points from its opening price. While the broader market exhibited positive performance, the Midcap and Small-cap indices lagged behind the Nifty 50, indicating a disparity in sectoral performance.
A closer look at the Nifty index reveals significant gains for certain stocks. Axis Bank emerged as the top gainer, closing 5.74% higher, followed by Wipro with a 3.76% increase. Other notable gainers included Eicher Motors, ICICI Bank, and Shriram Finance, demonstrating positive sentiment surrounding these companies. Conversely, the top losers in the Nifty index included Infosys, Asian Paints, Britannia Industries, Nestle India, and Hindustan Unilever. These companies experienced a decline in their share prices, signaling potential market concerns or investor sentiment.
The Bank Nifty, which tracks the performance of banking stocks, also concluded the trading day with a positive note, closing at 51,288.80. However, the index exhibited a relatively volatile session with an intraday high of 52,199.45 and a low of 51,000.90. This volatility highlights the dynamic nature of the banking sector and underscores the need for careful monitoring of stock movements within this segment.