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The Indian stock market soared to new heights in early trade today, with benchmark indices Sensex and Nifty hitting fresh record highs.

 

By around 9:20 am, the Sensex had climbed 200 points to reach 77,187, while the Nifty rose by 70 points to stand at 23,534, marking a 0.25% increase for both indices.

 

The rally was strengthened by significant gains across several key sectors. The IT stocks index led the charge, with substantial contributions from the Metal stocks index and PSU banks index. Conversely, the Healthcare and Pharma sectoral indices were the primary laggards of the morning session.

 

Market breadth was overwhelmingly positive, with 2,193 shares advancing, 734 shares declining, and 156 shares remaining unchanged. The midcap and smallcap indices also reflected this optimism, rising by 0.3% and 0.8%, respectively.

 

Out of the 13 sectoral indices on the National Stock Exchange (NSE), only three were trading in the red. Among the top performers on the Nifty were Wipro, Adani Enterprises, Mahindra & Mahindra (M&M), Titan Company, and Adani Ports. These stocks saw the highest gains, driving the overall market uptrend.

 

In contrast, the top losers on the Nifty included Maruti Suzuki, Dr Reddy's Laboratories, Divis Laboratories, Kotak Mahindra Bank, and SBI Life Insurance. These stocks struggled amid the otherwise buoyant market conditions.

 

The strong performance of IT stocks was particularly notable, reflecting ongoing investor confidence in the sector. Analysts attribute this surge to robust earnings reports and positive future outlooks for technology companies.