Share Market Today: Sensex Zooms 1360 Points, Breaches 84,000-Mark For First Time; Nifty Near 25,800
Share Market Today: On the 30-share Sensex platform, M&M, ICICI Bank, JSW Steel, L&T, Airtel, Nestle emerged gainers. On the down side, SBI, IndusInd Bank, TCS, and Bajaj Finance were among the losers
Share Market Today: The two key equity benchmark indices, BSE Sensex and NSE Nifty50, hit new record highs tracking a rally in global markets following the US Fed cut its benchmark interest rate. The two indices scaled new levels as the BSE benchmark Sensex breached the historic 84,000-mark for first time ever. The 30-share BSE Sensex surged 1,360 points to 84,544. The index jumped a record high of 84,694 during intraday trade. On the other hand, the NSE Nifty50 touched a fresh high 25,790, rising 375 points. The index hit 25,849 during intra-day trade.
Stock update
On the 30-share Sensex platform, M&M, ICICI Bank, JSW Steel, L&T, Airtel, Nestle emerged gainers. On the down side, SBI, IndusInd Bank, TCS, and Bajaj Finance were among the losers.
ALSO READ | Sensex, Nifty Surge To Record Highs; Here's What Fueling This Rally
In the broader market, the BSE Midcap index advanced 1.2 per cent and the Smallcap index gained 1.4 per cent.
Sectoral update
Sectorwise, 12 out of 13 indices settled in the green, with Nifty FMCG, Auto, Realty, and Metal gaining between 1 per cent and 2 per cent. Nifty Bank index marked its seventh consecutive session of gains and hit a fresh high of 54,066.
In the previous session on Thursday, Sensex gained 237 points to end at 83,185, while the Nifty50 jumped 38 points to settle at 25,416.
"The Dow and S&P 500 setting yet another record highs yesterday is indicative of the strength of this ongoing global bull run led by the mother market US," V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services, said.
Global update
In Asian markets, Seoul, Tokyo, Shanghai and Hong Kong settled in the green. Equity markets in Europe were quoting lower. The US markets ended remarkably higher on Thursday.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 2,547.53 crore on Thursday, according to exchange data.
Global oil benchmark Brent crude dipped 0.23 per cent to $74.71 a barrel.
Rupee rises 10 paise
The rupee stayed on the upward track for a record seventh straight session and settled 10 paise higher at 83.55 (provisional) against the dollar on Friday, as robust domestic equity markets and retreating crude oil prices boosted investors' sentiment.
Forex traders said a weak greenback against Asian peers supported the Indian currency. At the interbank foreign exchange market, the Indian currency opened at 83.63 and hit the intra-day high of 83.48 against the greenback. The unit touched the day's low of 83.63 before settling at 83.55 (provisional) against the dollar, registering a gain of 10 paise from its previous close.
The local unit gained 11 paise to settle at 83.65 against the US dollar on Thursday. On Tuesday, it had appreciated 10 paise. The Forex market was closed on Wednesday due to a holiday declared by the Maharashtra government.
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