Stock Market: Sensex Jumps 274 Points, Nifty Settles Near 19,400 Amid Volatility. Bajaj Finance Zooms 7 Per Cent

Stock update: On the 30-share Sensex platform, Bajaj Finance (7.17%) and Bajaj Finserv (5.76%) posted sharp rally. TechM, Sun Pharma, NTPC, Titan, Wipro, TCS were among the other lead gainers

In the broader market, the Nifty MidCap 100 and SmallCap 100 ended the day on a mixed note with the former slipping 0.23 per cent.

Source : Getty

The two key equity benchmarks, Sensex and Nifty, on Tuesday closed at record highs yet again amid volatility. The two indices which started with flying colours, lost track during intra-day trade, however, banking and IT stocks lifted the market mood.

The S&P BSE Sensex, which swung in a range of 502 points hitting an all-time high of 65,673 in the intra-day trade, eventually, settled 274 points higher at 65,479. On the other hand, the NSE Nifty50 closed 66 points up at 19,389. It hit a lifetime high of 19,434 during the day.

On the 30-share Sensex platform, Bajaj Finance (7.17 per cent) and Bajaj Finserv (5.76 per cent) posted sharp rally. TechM, Sun Pharma, NTPC, Titan, Wipro, TCS were among the other lead gainers. On the downside, Airtel, Axis Bank, Reliance, IndusInd Bank, Tata Steel, UltraCemco emerged losers.

#ABPLiveStockMarketWatch | The two equity benchmarks closed at record highs yet again amid volatility on Tuesday

At 03:30 PM, #Sensex gains 274 points to 65,479 & #Nifty up 66 points to close at 19,389

Here's a look at the stocks in focus#ClosingBell #ABPLive #MarketWatch pic.twitter.com/AnN3NyhaSN

— ABP LIVE (@abplive) July 4, 2023

In the broader market, the Nifty MidCap 100 and SmallCap 100 ended the day on a mixed note with the former slipping 0.23 per cent.

Sectorwise, IT, pharma and PSU banks rose 0.5-1.9 per cent while automobile, energy, and infra were the worst hit, down 0.3-0.6 per cent.

On the IPO front, Senco Gold’s issue was subscribed 48 per cent till 3:30 pm on the first day of the offer. Retail portion was subscribed 81 per cent, and NII 33 per cent.

In the previous session on Monday, the BSE Sensex closed at a new fresh high of 65,205, surging 486 points, while the Nifty50 jumped 133 points to shut shop at 19,322.

In Asian markets, Shanghai, and Hong Kong settled in the green while Seoul and Tokyo ended lower. Equity markets in Europe were trading on a mixed note in the mid-session deals. The US markets ended in positive territory on Monday.

Global oil benchmark Brent crude climbed 1.15 per cent to $75.51 a barrel.

Foreign Portfolio Investors (FPIs) bought equities worth Rs 1,995.92 crore on Monday, according to exchange data. FPIs pumped Rs 47,148 crore in the Indian equities in June, making it the highest inflow in 10 months.

Meanwhile, the rupee pared initial gains and settled for the day lower by 11 paise to close at 82.02 (provisional) against the US dollar on Tuesday amid bargain buying from oil importers and hedgers. However, a positive tone in domestic markets, wherein benchmark indices witnessed record high levels and steady foreign fund inflows, supported the rupee at lower levels.

At the interbank foreign exchange, the domestic unit opened at 81.90 against the dollar and settled at 82.02 (provisional), down 11 paise from its previous close. During the day, the rupee touched a high of 81.87 and a low of 82.03 against the greenback. On Monday, the rupee had settled at 81.91 against the dollar.