Stock Market: Sensex Jumps 340 Points, Nifty Around 19,500. Realty Leads, M&M Zooms 5 Per Cent

Stock update: On the 30-share Sensex platform, M&M, PowerGrid, Tata Motors, Reliance, NTPC, Axis Bank were among the gainers

The two key equity benchmarks, Sensex and Nifty, on Thursday closed in the green and reclaimed their all-time highs after a flat opening. The BSE Sensex settled 340 points to 65,786. On the other hand, the NSE Nifty50 gained 99 points to 19,497.

On the 30-share Sensex platform, M&M, PowerGrid, Tata Motors, Reliance, NTPC, Axis Bank were among the gainers. On the downside, Maruti, HCL, Bajaj Finance, IndusInd Bank, ITC, Tata Steel emerged losers. Among specific stocks, DCB Bank soared 6 per cent after the RBI approved Tata Asset Management to acquire 7.5 per cent stake in the bank through the schemes of Tata Mutual Fund.

In the broader markets continued their outperformance. The BSE MidCap and SmallCap indices rose up to 0.4 per cent versus the flat Sensex index.

Sectorwise, Nifty Realty was the top gainer, up 1 per cent. PSBs and oil & gas pockets also held firm gains, while others were muted. 

In the previous session on Wednesday, the S&P BSE Sensex settled 33 points lower at 65,446, while the NSE Nifty50 ended at 19,399, up 10 points.

"Foreign investors continue to provide unwavering support to the domestic market, helping to sustain the ongoing rally despite weak global cues. Global markets are displaying a negative trend, influenced by hawkish Federal Open Market Committee (FOMC) minutes and US-China tensions," said Vinod Nair, Head of Research at Geojit Financial Services.

In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong ended lower. Equity markets in Europe were trading lower. The US markets ended in the negative territory on Wednesday.

Global oil benchmark Brent crude climbed 0.27 per cent to $76.86 a barrel.

Meanwhile, the rupee depreciated by 22 paise to close at 82.47 (provisional) against the US dollar on Thursday, weighed down by a stronger American currency in the overseas market and elevated crude oil prices. At the interbank foreign exchange, the domestic unit opened at 82.36 against the dollar and settled at 82.47 (provisional), down 22 paise from its previous close.

During the day, the rupee touched a high of 82.36 and a low of 82.55 against the greenback. On Wednesday, the rupee had settled at 82.25 against the dollar. Forex traders said the US dollar gained on safe-haven demand amid risk aversion and rising expectations of a hawkish US Federal Reserve monetary policy in July.