Stock market today: Indian stock market benchmarks—Nifty 50 and Sensex—hit fresh record highs earlier today despite mixed global cues, while several automobile stocks, including Maruti Suzuki India and Mahindra and Mahindra (M&M), clocked healthy gains. Auto stocks rose after reports emerged that the UP government had announced the complete registration tax waiver on strong hybrid cars.
Nifty 50 hit its fresh all-time high of 24,443.60 while the Sensex made a fresh peak of 80,397.17 during the session. Nifty 50 ended the day at 24,433.20, rising 113 points, or 0.46 per cent. The Sensex settled with a gain of 391 points, or 0.49 per cent, at 80,351.64. Both indices ended at their fresh closing highs.
In the current market scenario, domestic brokerage firm SMC Global Securities has released its top four stock picks for this week. The brokerage has selected the quality stocks on technical as well as fundamental parameters. The stocks have robust fundamentals and are well-placed to yield good returns for investors in the next one-year time frame, according to the brokerage.