Market Wrap-Up: Nifty 50 and Sensex Reach Record Highs, Top Gainers and Losers, Global Market Trends, and More!

In today’s market wrap-up, the Nifty 50 and Sensex ended at fresh record highs, showcasing the positive momentum in the Indian stock market. The Nifty 50 and Sensex movements were driven by various factors, including strong performances in key sectors. Asian and US markets also fared well, contributing to the overall positive sentiment in the global markets.

One of the standout performers in the market today was Sonata Software, whose shares surged nearly 8000% in the last 11 years. With a 630% increase in the last four years alone, Sonata Software has caught the attention of investors and analysts alike. Dalal& Brocha Stock Broking has initiated coverage on the stock with a ‘buy’ rating, setting a target price of ₹919.

Meanwhile, experts have unveiled a stock market strategy for intraday trading ahead of Budget 2024. Cement companies are expected to report subpar performance in Q1FY25 due to slow volume growth and soft demand. On the other hand, sectors like affordable housing, industrials, engineering, and consumer goods are expected to benefit from the Union Budget 2024, according to Hemant Sood of Findoc.

In the IPO space, Effwa Infra and Research and Ganesh Green Bharat made bumper debuts, with their share prices opening at significant premiums. Retail investors continue to show interest in options trading, despite concerns from regulators about the risks involved.

Overall, the market today was filled with exciting developments and opportunities for investors. Stay tuned for more real-time updates on your favorite companies and sectors by following Mint’s market blog.