Share Market Today: Sensex, Nifty End Marginally Higher Amid Volatility. IT, Pharma Stocks Gain

Share market today: The two key equity benchmarks, Sensex and Nifty, closed marginally higher after erasing early gains amid the weekly F&O expiry. The BSE Sensex index closed at 80,050, up 63 points. It touched a record high of 80,393 in the intraday trade. On the other hand, the NSE Nifty50 settled at 24,302, up 16 points. The benchmark hit a new lifetime high of 24,401 during the session.

Stock update

On the 30-share Sensex platform, HCLTech, ICICI Bank, Tata Motors, Sun Pharma, TCS, Infosys emerged gainers. On the down side, HDFC Bank, Bajaj Finance, L&T, TechM, UltraCemco, IndusInd Bank settled in the red.

A total of 2,185 stocks advanced while 1,742 declined and 94 remained unchanged on the BSE. As many as 23 Nifty shares advanced, 27 declined on the exchange.

In the broader markets, the BSE Midcap and Smallcap indices both advanced 0.6 per cent.

Sectoral update

Sectorwise, Nifty IT and Pharma indices gained over 1 per cent each, Auto and realty rose 0.5 per cent each. On the flip side, Nifty FMCG dropped 0.21 per cent.

In the previous session on Wednesday, the Sensex closed at 79,987, rising 545 points, while closed 163 points higher at 24,287. On Wednesday, the market capitalisation of BSE-listed firms hit a record high of Rs 445.43 lakh crore on Wednesday, driven by a sharp rally in equities after Sensex breached the historic 80,000-mark for the first time ever.

"The Nifty has approached its immediate target of 24,500 and appears slightly overextended. It would be prudent to take some profits and wait for a potential dip before considering new long positions in the index," Ajit Mishra – SVP, Research, Religare Broking Ltd said.

Global update

In Asian markets, Tokyo, Hong Kong and Seoul ended in the positive territory, while Shanghai closed in the red. European markets were trading in the green territory in mid-session deals. US markets ended higher on Wednesday during the shortened trading session. Stock exchanges will remain closed on Thursday on account of Independence Day.

Global oil benchmark Brent crude fell 0.52 per cent to $86.89 a barrel.

Foreign Institutional Investors (FIIs) bought equities worth Rs 5,483.63 crore on Wednesday, according to exchange data

Rupee dips 1 paise

The rupee pared its initial losses and settled for the day on an almost flat note at 83.50 (provisional) against the US dollar on Thursday, resisting pressure from elevated crude oil prices. Forex traders said a positive trend in domestic equities, wherein benchmark indices touched all-time high levels, and significant foreign fund inflows supported the rupee and restricted the fall.

At the interbank foreign exchange market, the local unit opened at 83.52 and hit the intraday high of 83.48 and a low of 83.56 against the American currency during the session.

It finally settled at 83.50 (provisional) against the dollar, 1 paisa lower than its previous close. On Wednesday, the rupee settled 1 paisa lower at 83.49 against the US dollar.