Share Market Today: Markets At All-Time High; Sensex Rises 450 Points, Nifty Above 23,400 Day After Modi 3.0 Ministers Assume Office
Share Market Today: On the 30-share Sensex platform, Bajaj Finance, Tata Motors, PowerGrid, ICICI Bank, Airtel, TechM emerged early gainers
Share market today: The two key equity benchmarks, Sensex and Nifty, on Wednesday hit an all-time high, day after Modi 3.0 ministers assumed office. At 10.10 am, the BSE Sensex jumped 451 points to 76,908. On the other hand, the NSE Nifty50 was trading at 23,402, up 137 points.
Stock update
On the 30-share Sensex platform, Bajaj Finance, Tata Motors, PowerGrid, ICICI Bank, Airtel, TechM emerged early gainers. On the down side, Asian Paints, Titan, Nestle, HUL, ITC, M&M were among the losers.
In the broader markets, the BSE Midcap index rose 0.49 per cent while the Smallcap index advanced 0.62 per cent.
Sectoral update
Sectorwise, all the indices are trading in the green. Among indices, Nifty IT, Nifty Media, and Nifty Oil and Gas jumped 1.34 per cent, 1.05 per cent, and 0.97 per cent, respectively.
In the previous session on Tuesday, the 30-share BSE Sensex declined 33 points to end at 76,456, while the NSE Nifty50 closed marginally up by 6 points at 23,265.
India's inflation numbers are scheduled to release on Wednesday. As per Reuters’ poll the inflation may see a marginal increase to 4.89 per cent in May.
Rupee setlled lower by 9 paise
Meanwhile, the rupee settled for the day lower by 9 paise at 83.59 against the US dollar on Tuesday, weighed down by a muted trend in domestic equities and the strength of the American currency in overseas markets.
Forex traders said the US dollar strengthened due to increased demand from oil importers and stronger-than-expected economic data from the US. Moreover, elevated crude oil prices also weighed on the local unit.
At the interbank foreign exchange, the local unit opened at 83.49 and saw an intra-day low of 83.59 against the greenback. The unit finally settled at 83.59 against the American currency, registering a loss of 9 paise from its previous close.
On Monday, the rupee settled 10 paise lower at 83.50 against the US dollar.
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