Share Market Today: Sensex Hits 80k Mark, Rises 580 Points; Nifty Near 24,300. Nifty Bank Stocks Surge

Share market today: The two key equity benchmarks, Sensex and Nifty, on Wednesday scaled new highs tracking positive global cues. The BSE Sensex breached the 80k-mark for the first time and hit its life-time high. On the other hand, the NSE Nifty50 index touched its news high at 24,297. At 9.55, the BSE Sensex jumped 583 points to 80,024, while the NSE Nifty50 was trading at 24,298, up 174 points.

Stock update

On the 30-share Sensex platform, HDFC Bank, Axis Bank, ICICI Bank, Kotak Bank, Nestle, IndusInd Bank emerged gainers. On the down side, TCS, UltraCemco, Reliance, Maruti, Tata Motors, PowerGrid declined in early trade.

About 2,086 shares advanced, 699 shares declined, and 100 shares unchanged

In broader indices, the BSE Midcap index gained by 0.53 per cent while the Smallcap index advanced over 0.68 per cent.

Sectoral update

Sectorwise, except IT, all other sectoral indices are trading in the green, with Bank index jumped nearly 2 per cent.

In the previous session on Tuesday, the S&P BSE Sensex closed 35 points lower at 79,441. On the other hand, the NSE Nifty 50 index closed with a loss of 18 points at 24,124.

Global update

In Asian markets, Seoul, Tokyo, and Hong Kong were trading in the positive territory while Shanghai quoted lower. US markets ended higher on Tuesday.

Global oil benchmark Brent crude climbed 0.56 per cent to $86.72 a barrel.

Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,000.12 crore on Tuesday, according to exchange data.

Rupee falls 5 paise

The rupee depreciated 5 paise to 83.53 against the US dollar in early trade on Wednesday, weighed down by the strong American currency and elevated crude oil prices.

Forex traders said the rupee is trading in a narrow range as US dollar buying by oil companies and Foreign Portfolio Investors (FPIs) further dented investor sentiment, while a firm trend in domestic equities supported the rupee at lower levels.

At the interbank foreign exchange market, the rupee opened at 83.51 and lost further ground to trade at 83.53 against the greenback in initial deals, registering a fall of 5 paise from its previous closing level. On Tuesday, the rupee depreciated 4 paise to settle at 83.48 against the US dollar.