Share Market Today: Sensex Crosses Historic 79K Mark; Nifty Hits 24,000. IT Stocks Rise

Share market today: The two key equity benchmarks, Sensex and Nifty, on Thursday for the first time touched all-time highs. The BSE Sensex topped the 79,000-mark hitting a record high of 79,396. Eventually, the Sensex settled at 79,243, up 569 points. On the other hand, the NSE Nifty50 crossed the 24,000 mark, hitting a fresh record high of 24,087. It later ended at 24,045, up 176 points. This was the second fastest 1000-point rally in the NSE benchmark which it completed in just 23 sessions.

Stock update

On the 30-share Sensex platform, UltraCemco jumped 5.07 per cent, followed by NTPC, JSW Steel, Tata Motors, Infosys, TCS. On the down side, L&T, Sun Pharma, Nestle, HDFC Bank, Maruti, and SBI were among the laggards.

In the broader markets, the BSE Midcap index advanced 0.17 per cent, while the BSE Smallcap dipped 0.57 per cent.

Sectoral update

Analysts said most sectors recorded gains, with IT and energy among the top gainers. Sectorwise, Nifty IT index gained 2 per cent, while the Nifty PSU Bank index declined 0.9 per cent.

In the previous session on Wednesday, the BSE Sensex benchmark closed at 78,674, rising 621 points, while the NSE Nifty50 ended at 23,869, up 148 points.

Global update

In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong settled lower. European markets were trading on a mixed note. US markets ended in positive territory on Wednesday.

Foreign institutional investors (FIIs) offloaded equities worth Rs 3,535.43 crore on Wednesday, according to exchange data.

Global oil benchmark Brent crude climbed 0.84 per cent to $85.97 a barrel.

Rupee gains 13 paise

The rupee appreciated 13 paise to settle at 83.44 (provisional) against the US dollar on Thursday, supported by a positive trend in equity markets and favourable domestic macroeconomic profile. Forex traders said the strength of the American currency in the overseas market and US dollar demand from oil marketing companies capped sharp gains for the local unit.

At the interbank foreign exchange market, the local unit opened at 83.56 and hit the intraday high of 83.43 against the greenback during the session. It finally settled at 83.44 (provisional) against the dollar, registering a gain of 13 paise from its previous close.

On Wednesday, the rupee depreciated 14 paise against the US dollar and settled at 83.57.