Share Market Today: Sensex, Nifty At New Record High. IT Stocks Shine
Share Market Today: On the 30-share Sensex platform, Titan, Tata Steel, Infosys, Sun Pharma, IndusInd Bank, HCLTech emerged early gainers
Share Market Today: The two key equity benchmark indices, Sensex and Nifty, on Friday hit their new all-time highs in early morning session after closing at record levels on Thursday. At 10.10 am, the BSE Sensex jumped 104 points to 85,940. On the other hand, the NSE Nifty50 was trading at 26,265, rising 49 points.
Stock update
On the 30-share Sensex platform, Titan, Tata Steel, Infosys, Sun Pharma, IndusInd Bank, HCLTech emerged early gainers. On the down side, PowerGrid, L&T, Airtel, ICICI Bank, Kotak Bank, HDFC Bank are among the losers.
In the broader markets, the BSE Smallcap jumped 0.50 per cent and the BSE Midcap advanced 0.23 per cent.
Sectoral update
Sectorwise, the Nifty IT index led sectoral gains, rising 2.75 per cent, followed by the Metal index, which increased by 1.09 per cent. In contrast, the Bank and Financial Services indices, along with FMCG, Auto, and Realty sectors, were trading in the red.
In the previous session on Thursday, the BSE Sensex jumped 666 points to settle at a record high of 85,836, while the NSE Nifty climbed 212 points to close at a record high of 26,216.
"A significant global market trend is the outperformance of China and Hong Kong this month on hopes that the Chinese stimulus will improve the Chinese economy and valuations in these markets where valuations are cheap now. IT stocks are likely to respond positively to the good guidance of Accenture," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.
Global update
In Asian markets, Tokyo, Shanghai, and Hong Kong were trading higher while Seoul quoted lower. In Hong Kong, the Hang Seng index was up 2.43 per cent, while the Shanghai Composite was up 1.3 per cent. Japan’s Nikkei 225 rose 0.33 per cent, while the broader Topix index saw a slight decline of 0.23 per cent. The US markets ended in the positive territory on Thursday.
Foreign Institutional Investors (FIIs) turned buyers on Thursday as they bought equities worth Rs 629.96 crore, according to exchange data. Domestic Institutional Investors (DIIs) also bought equities worth Rs 2,405.12 crore.
Global oil benchmark Brent crude dipped 0.24 per cent to $71.43 a barrel.
Rupee rises 2 paise
Rupee rises 2 paise to 83.64 against the US dollar in early trade on Friday amid softening crude oil prices and inflow of foreign funds. The Indian currency was, however, weighed down by a subdued domestic equity market and a stronger greenback against major rivals overseas amid increased month-end dollar demand from importers, forex traders said.
At the interbank foreign exchange, the local unit opened at 83.64 and touched the low of 83.69 before trading again at 83.64 against the American currency, registering a gain of 2 paise from its previous close. On Thursday, the rupee declined 8 paise to settle at 83.66 against the American currency.
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