Share Market Today: Sensex, Nifty Hit All-Time Highs. IT Drags, Auto Shines
Share market today: On the 30-share Sensex platform, Bajaj Finance, HDFC Bank, Bajaj Finserv, L&T, M&M, Nestle were among early gainers
Share market today: The two key equity benchmarks, Sensex and Nifty, on Wednesday hit their all-time highs in early trade ahead of the much-awaited US Fed's decision on interest rates. The indices were trading flat amid tepid global market trends. At 10:45 am, the BSE Sensex jumped 187 points to 83,267. On the other hand, the NSE Nifty50 was trading at 25,475, up 56 points.
Stock update
On the 30-share Sensex platform, Bajaj Finance, HDFC Bank, Bajaj Finserv, L&T, M&M, Nestle were among early gainers. On the downside, TechM, Infosys, TCS, HCLTech, Tata Steel, Asian Paints emerged losers.
A total of 1753 shares gained, 1,313 shares dropped, while 133 shares unchanged.
In the broader markets, the BSE Midcap and Smallcap indices are trading flat.
In the previous session on Tuesday, the 30-share Sensex rose 91 points to 83,079, the NSE Nifty50 closed at 25418, rising 35 points.
"The significance of the Fed rate decision expected tonight is evident from the wait and watch market mood across the globe yesterday. Perhaps more important than the Fed action would be the Fed commentary and the message," said V K Vijayakumar, chief investment strategist, Geojit Financial Services.
Global update
In Asian markets, Tokyo traded higher while Shanghai quoted lower. The US markets ended on a mixed note on Tuesday.
Foreign Institutional Investors (FIIs) turned buyers on Tuesday as they bought equities worth Rs 482.69 crore, according to exchange data.
Global oil benchmark Brent crude declined 0.46 per cent to $73.36 a barrel.
Rupee rises 10 paise
The rupee appreciated by 10 paise to settle at 83.76 against the US dollar on Tuesday, supported by a firm trend in the domestic equities and foreign fund inflows. Forex traders investors are awaiting cues from the US Federal Reserve's policy decision this week.
Moreover, the decline in wholesale inflation to a four-month-low, strong domestic equities and foreign fund inflows aided the domestic currency, they added.
At the interbank foreign exchange market, the rupee opened at 83.87, and traded in the range of 83-70 to 83.87 during the day. It settled for the day at 83.76 against the US dollar, up 10 paise from its previous close of 83.86.
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