Share Market Today: Sensex Gains 150 Points; Nifty Settles Around 23,300 Ahead Of CPI Data

Share market today: The two key equity benchmarks, Sensex and Nifty, on Wednesday ended higher, with the Nifty hitting its fresh record closing level. The two domestic indices stayed in a narrow range ahead of May CPI-based inflation data scheduled to be announced in the evening.

The S&P BSE Sensex closed at 76,607, up 150 points. On the other hand, the NSE Nifty50, which hit a record high of 23,442, settled at 23,323, up 58 points.

Stock update

On the 30-share Sensex platform, PowerGrid, TechM, Bajaj Finance, NTPC, UltraCemco, L&T were among the gainers. On the down side, M&M, HUL, Infosys, Titan, Axis Bank, Nestle emerged laggards. About 2,306 shares advanced, 1,132 shares declined, and 79 shares remained unchanged.

In the broader markets, the BSE Midcap and Smallcap indices advanced 1 per cent each.

India VIX, the volatility index, dropped over 2 per cent to 14, marking its third day of decline.

Sectoral update

Sectorwise, most indices settled in the green zone, led by Nifty Media and PSU Bank indices (gaining up to 2 per cent). On the flip side, only Nifty FMCG index closed in the red, down 0.45 per cent.

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.

Global update

In Asian markets, Seoul, and Shanghai settled in the positive territory, while Tokyo and Hong Kong ended lower. European markets were trading mostly with gains during the mid-session deals. US markets ended mostly higher on Tuesday.

Global oil benchmark Brent crude climbed 1.16 per cent to $82.87 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 111.04 crore on Tuesday, according to exchange data.

Rupee rises 3 paise

Meanwhile, the Indian currency gained 3 paise to close at 83.56 (provisional) against the US dollar on Wednesday, on positive domestic market, wherein benchmark sensitive index Nifty touched a fresh all-time high.

Forex traders said rupee is trading in a narrow range as all eyes are on the US May CPI print and the US Federal Reserve's rate decision on the global front and India's Consumer Price Index (CPI) on the domestic front.

At the interbank foreign exchange market, the local unit opened at 83.56. During the trading session, the rupee touched an intraday high of 83.51 and a low of 83.56. It finally settled for the day at 83.56 (provisional) against the greenback, registering an increase of 3 paise from its previous closing level. On Tuesday, the rupee settled for the day lower by 9 paise at 83.59 against the US dollar.