Share Market Today: Sensex Rises 349 Points; Nifty Hit All-Time Highs. Reliance Stock Surges
Share Market Today: On the 30-share Sensex platform, Tata Motors, Bajaj Finance, Bajaj Finserv, HCLTech, ITC, Reliance emerged main gainers
Share market today: The two key equity benchmark indices, Sensex and Nifty, closed in the green on Thursday by extending their winning run to 8th day in a row, driven by a rally in Reliance Industries and Tata Motors. The 30-share BSE Sensex gained 349 points to end at an all-time closing high of 82,135. On the other hand, the NSE Nifty50 soared 100 points to close at a new high of 25,152.
Stock update
On the 30-share Sensex platform, Tata Motors, Bajaj Finance, Bajaj Finserv, HCLTech, ITC, Reliance emerged main gainers. On the down side, M&M, JSW Steel, Sun Pharma, Kotak Bank, Tata Steel, PowerGrid were among the losers. Chairman and Managing Director of Reliance Industries, Mukesh Ambani, on Thursday said during the RIL's Annual General Meeting that the conglomerate is set to discuss a proposed 1:1 bonus share issue at its upcoming board meeting on September 5. Shares of Reliance closed at Rs 3040.85 apiece, up 1.51 per cent on the BSE.
In the broader market, Nifty Midcap and Nifty Smallcap indices dropped for the second session on Thursday.
Sectoral update
Sectorwise, the Nifty FMCG sector led the gains, climbing nearly 1 per cent. Nifty Energy and Auto indices also advanced, rising up to 0.6 per cent. Meanwhile, Nifty IT trimmed its gains, finishing 0.4 per cent higher. On the downside, the Pharma, Metal, Healthcare, and Realty sectors were the top laggards.
In the previous session on Wednesday, the 30-share BSE Sensex closed at 81,785, rising 74 points, while the NSE Nifty50 settled at 25,052, up 35 points.
Global update
In Asian markets, Seoul, Tokyo and Shanghai settled in the negative territory, while Hong Kong ended higher. European markets were trading in the positive zone. The US markets ended lower on Wednesday.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,347.53 crore on Wednesday, according to exchange data.
Global oil benchmark Brent crude declined 0.60 per cent to $78.27 a barrel.
Rupee rises 10 paise
The rupee appreciated 10 paise to close at 83.87 (provisional) against the American currency on Thursday, supported by easing crude oil prices and a firm trend in domestic equities. Forex traders said the market is awaiting cues from the US GDP and the US Personal Consumption Expenditure (PCE) inflation data, as this data point is crucial since it could sway the Federal Reserve's decision on whether to implement a 25 or 50 basis point rate cut at its September meeting.
At the interbank foreign exchange market, the local unit opened at 83.92 and touched an intra-day high of 83.84 against the US dollar.
The domestic currency finally settled at 83.87 (provisional), 10 paise higher from its previous close. On Wednesday, the rupee depreciated 4 paise to close at 83.97 against the American currency.
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