Share Market Today: Nifty Near 25K; Sensex Gains Over 250 Points. Asian Paints, NTPC Lead
Share market today: On the 30-share Sensex platform, Asian Paints gained 2.6 per cent, followed by JSW Steel, NTPC, Bharti Airtel, TCS, TechM
Share market today: The two key equity benchmarks, Sensex and Nifty, on Wednesday are trading in the green tracking buying in bank stocks amid mixed global cues. At 10.35 am, the BSE Sensex jumped 257 points to 81,712. On the other hand, the NSE Nifty50 was on the verge of hitting 25k. It gained 85 points to 24,943.
Stocks update
On the 30-share Sensex platform, Asian Paints gained 2.6 per cent, followed by JSW Steel, NTPC, Bharti Airtel, TCS, TechM. On the down side, PowerGrid, IndusInd Bank, Axis Bank, Tata Motors, Reliance, HUL were among the early laggards.
In the broader markets, Nifty Smallcap declined 0.33 per cent while Nifty Midcap advanced 0.27 per cent higher.
Sectoral update
Sectorwise, Nifty Consumer Durable and Pharma led with over 0.6 per cent gains each. FMCG, meanwhile, rose 0.5 per cent.
In the previous session on Tuesday, the BSE Sensex closed higher by 100 points at 81,455, its all-time closing high, while the NSE Nifty jumped 21 points to close at an all-time high of 24,857.
Global update
In the Asian markets, Shanghai, Hong Kong, and Seoul are trading higher, while Tokyo is quoting in the negative territory. The US markets settled on a mixed note on Tuesday.
"The global cues are likely to be supportive on expectations of a rate cut from the US Federal Reserve (Fed) in September. The Fed commentary expected tonight is likely to indicate the possibility of rate cut in September. It is time for investors to take a long-term call on the market and moderate their expectations to realistic levels. At this juncture in the market safety is important," V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services, said. Chasing super normal returns from the broader market will be a risky game, he said.
Global oil benchmark Brent crude is rose 1.49 per cent to $79.80 a barrel.
Foreign institutional investors offloaded equities worth Rs 5,598.64 crore on Tuesday, according to exchange data.
Rupee gains 2 paise
The rupee rose 2 paise to 83.71 against the US currency in early trade on Wednesday following a marginal dip in the dollar in overseas markets. At the interbank currency exchange, the domestic currency opened at 83.72, 1 paisa higher than the previous day's close.
The domestic unit moved in the tight range of 83.70-83.72 in early trade. Forex traders said the rise in Brent crude oil prices offset the rupee's gains following the decline in dollar rates overseas.
Top Headlines
Trending News
