Share Market Closes Higher For Fourth Consecutive Session, Sensex Ends Above 80,950
The BSE Sensex closed the session close to the 81K mark at 80,956.33, climbing more than 100 points, while the NSE Nifty50 ended trading slightly higher by 10 points at 24,467
Share Market Today: The two key equity benchmarks, Sensex and Nifty, on Wednesday settled trading on a positive note for the fourth consecutive session. The BSE Sensex closed the session close to the 81K mark at 80,956.33, climbing more than 100 points, while the NSE Nifty50 ended trading slightly higher by 10 points at 24,467.
Stock Update
Among the 30-share Sensex constituents, HDFC Bank led the rally and gained almost 2 per cent as session ended. Other major gainers included NTPC, Bajaj Finserv, TCS, and Titan. On the flip side, Bharti Airtel, Tata Motors, Adani Ports, PowerGrid, and Maruti Suzuki ended in the red.
In the broader markets, the Nifty Midcap 100 and Nifty Midcap 50 indices climbed 1.05 per cent and 1 per cent respectively.
Sectoral Update
Sectorally, majorly all indices closed in the green. The PSU Bank and Realty indices were the top performers, climbing 2.25 per cent and 2.14 per cent respectively.
Official exchange data revealed that foreign institutional investors became net buyers on Tuesday and bought equities worth Rs 3,664.67 crore. European markets traded on a higher note, while the US markets ended majorly in green in the trading session on Tuesday.
On Wednesday, the HSBC services PMI for the Indian economy slipped marginally to 58.4 in November. Global oil benchmark Brent crude touched $73.91 per barrel.
Rupee Slips To All-Time Low
The rupee depreciated to touch an all-time low of 84.76 (provisional) against the American dollar after taking a hit of 8 paise on Wednesday. This slump was attributed to a strengthening US currency and rise in crude prices. Forex traders noted that a positive trend in domestic equities and foreign fund inflows backed the domestic rupee. At the interbank currency exchange, the rupee opened at 84.66 and traded in the range of 84.65 to 84.76.
Anuj Choudhary, Research Analyst, Mirae Asset Sharekhan, said, "The rupee lost initial gains amid strong dollar and a positive tone in crude oil prices. Dollar strengthened amid upbeat JOLTS job openings data from the US and disappointing Caixin Services PMI data from China, he said, adding, USD-INR spot price is expected to trade in the range of Rs 84.50 to Rs 85."
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