Share Market Today: Sensex Near 80000, Jumps 545 Points; Nifty Around 24,280. Bank Stocks Lead

Share market today: The two key equity benchmarks, Sensex and Nifty, on Wednesday scaled new record highs during intraday trade tracking positive global cues. The BSE Sensex index breached the 80,000-mark for the first time on Wednesday, touching an all-time high of 80,074. It closed at 79,987, up 545 points. On the other hand, the NSE Nifty50 hit a new record high of 24,307, before settling 163 points higher at 24,287.

Stock update

On the 30-share Sensex platform, Adani Ports, Kotak Bank, HDFC Bank, Axis Bank, IndusInd Bank, SBI emerged gainers. On the flip side, TCS, Titan, Reliance, Tata Motors, L&T, Asian Paints were among the losers.

In the broader markets, the BSE Midcap and the BSE Smallcap index advanced 0.86 per cent each.

Sectoral update

Among sectors, Nifty Private Bank index jumped 2 per cent, Nifty Bank 1.77 per cent, and Nifty PSU Bank 1 per cent. On the flip side, Nifty Media index was the only loser, dropped 0.39 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 market update

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

Global oil benchmark Brent crude climbed 0.09 per cent to $86.32 a barrel.

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

Rupee slips 4 paise

The rupee depreciated 4 paise to settle at 83.52 (provisional) against the US dollar on Wednesday, weighed down by elevated crude oil prices. Forex traders said the Indian rupee depreciated on strength in crude oil prices, which touched a two-week high on Tuesday. However, a firm tone in domestic markets and favourable macroeconomic data cushioned the downside.

At the interbank foreign exchange market, the local unit opened at 83.51 and hit the intraday high of 83.49 and a low of 83.56 against the American currency during the session. It finally settled at 83.52 (provisional) against the dollar, 4 paise lower than its previous close.

On Tuesday, the rupee depreciated 4 paise to settle at 83.48 against the US dollar.