Indian stock markets started September with gains as both indices opened positively on Monday. The Nifty 50 index opened with a gain of 97.70 points or 0.39 per cent at 25,333.60, while the BSE Sensex index began the week with a gain of 0.44 per cent or 359 points at 82,725.28 points.
Indian stock indices settled the week's trade on a high, keeping the gains that were accumulated throughout the day intact. The indices were supported by continued buying by foreign portfolio investors.
Indian stock markets opened on a positive note on the last trading session of August, following a global rally in stocks after the strong GDP numbers of the US economy.
The Nifty touched a record high at 25,174.55 and Sensex rose to 82,220.68. The indices opened almost flat with a mixed response from both indices in the opening hour.
Stock markets globally are facing pressure after Nvidia management disappointed some investors during the announcement of quarterly results. The company, however, showed good quarterly results.
Expectations of strong festival season demand, revival in rural demand, and hopes of interest rate cuts later this fiscal year are expected to support stock markets, brokerage Prabhudas Lilladher said in its latest 'India Strategy' report.
The Nifty at the National Stock Exchange (NSE) touched a record new lifetime high of 25,114.05 during the trading hour on Wednesday. The sectoral stocks of IT contributed the most to the fresh lifetime high ever of Nifty. The sectoral index of IT was trading with a lead of 1.96 per cent.
In a volatile trade, Indian stock indices - Sensex and Nifty - closed Tuesday's session largely on a steady note. The indices started the day flat and later oscillated between red and green, but closed with marginal gains.