On Thursday, Nifty 50 shrugged off early jitters and closed 0.76% up at 24,800.85. The benchmark index hit a new all-time high of 24,837.75. LTIMindtree led the gainers, while Asian Paints was the biggest loser.

LTIMindtree stood out as the top performer, with its stock price climbing by 3.50% to ₹5,756.90, up from its last close at ₹5,562.35. The stock gained after its Q1 results beat market expectations and the management put out upbeat commentary.

Top Gainers:

Tech Mahindra followed closely with a 3.44% rise, closing at ₹1,539.35. Tata Consultancy Services also had a strong day, with its stock price going up 3.28% to ₹4315.55.

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ONGC and Bajaj Finserv rounded out the top five gainers, gaining 2.80% and 2.59%, respectively.

Conversely, Bajaj Auto led the day’s losers, with its stock price decreasing 0.95% to ₹9626.20, a drop from its previous close of ₹9718.35.

Top Losers:

Grasim, Hero MotoCorp, Coal India, and Asian Paints also faced downturns, with their stock prices dropping by 1.26%, 1.36%, 1.41%, and 1.44% respectively.

Asian Paints fell after its Q1 results did not meet the street’s expectations, prompting brokerages to cut target prices.

Vinod Nair, head of research, Geojit Financial Services said, “The frontline indices firmed up in the second half, reaching fresh highs driven by renewed buying in IT stocks. Investor optimism for the sector grew after strong performance reports from the country’s leading IT firms in the June quarter, coupled with a weakening rupee. However, the broader market lagged the major indices due to high valuations and sectoral rotation, which is influenced by anticipated improvements in private consumption, particularly in rural areas.”

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