Share Market Today: Benchmarks Hit Fresh All-Time Highs. Sensex Gains 225 Points; Nifty Around 24900

Share Market Today: On the 30-share Sensex platform, L&T, SBI, ICICI Bank, IndusInd Bank, Tata Motors, Adani Ports were among the lead gainers

Share Market Today: In the broader markets, Nifty Smallcap advanced 0.92 per cent while Midcap was jumped 0.53 per cent higher.

Source : ABPLIVE AI

Share market today: The two key equity benchmarks, Sensex and Nifty, on Monday hit their new all-time high in early trade tracking positive global sentiment and fresh foreign fund inflows. At 10.25 am, the BSE Sensex gained 226 points to 81,558. On the other hand, the NSE Nifty50 was trading at 24,892, rising 57 points.

Stock update

On the 30-share Sensex platform, L&T, SBI, ICICI Bank, IndusInd Bank, Tata Motors, Adani Ports were among the lead gainers. On the downside, Titan, Bharti Airtel, TechM, PowerGrid, Sun Pharma, Nestle emerged losers.

In the broader markets, Nifty Smallcap advanced 0.92 per cent while Midcap was jumped 0.53 per cent higher.

Sectoral update

Sectorwise, bank, realty, capital goods, oil & gas, PSU Bank rose 1-3 per cent. On the other hand, FMCG, pharma were trading in the red.

In the previous session on Friday, the BSE benchmark soared 1,293 points to end at 81,333, while the NSE Nifty50 surged 429 points to close at an all-time high of 24,835.

"The undercurrent of this bull market has turned stronger on positive cues. The soft landing scenario for the US economy and the expectation of a rate cut by the Fed in September are intact. This will provide global support to this bull market," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Global update

In Asian markets, Seoul, Tokyo, Shanghai, and Hong were quoting in the positive territory. The US markets rallied on Friday.

Foreign Institutional Investors (FIIs) bought equities worth Rs 2,546.38 crore on Friday, according to exchange data.

In a departure from recent trends both FIIs and DIIs (Domestic Institutional Investors) turned buyers last Friday resulting in a total buying of Rs 5,320 crore pushing the market sharply up, he added.

Global oil benchmark Brent crude climbed 0.35 per cent to $81.41 a barrel.

Rupee rises 1 paise

The rupee appreciated by 1 paisa to trade at 83.72 against the US currency in the early session on Monday amid a weak dollar in the overseas markets.

At the interbank foreign exchange market, the rupee opened firm at 83.70 against the US dollar. The local currency moved in a tight range of 83.70 to 83.72 in early trade. The rupee was trading at 83.72 against the US dollar at 9.30 am.

Foreign fund outflows from Indian equities after the government's decision to hike the tax rate on capital gains weighed on the local currency and restricted the upmove, forex traders said.