Stock Market At New Record High: Sensex Rises Over 400 Points, Nifty Above 19,050. IT, Banks Lead

Stock update: On the 30-share Sensex platform, PowerGrid, Infosys, M&M, Asian Paints, IndusInd Bank, Bajaj Finance were among lead gainers

In the broader markets, Nifty Midcap 100, and Nifty Smallcap 100 indices gained up to 0.4 per cent. ( Image Source :Getty )

The two key equity benchmarks, Sensex and Nifty, on Friday opened at new record highs during early morning trade. The S&P BSE Sensex touched an all-time high of 64,311, while Nifty50 touched a fresh high of 19,080 levels. At 9.31 am, the BSE Sensex was trading at 64,329, up 414 points. On the other hand, the NSE Nifty climbed 114 poinst to 19,086.

On the 30-share Sensex platform, PowerGrid, Infosys, M&M, Asian Paints, IndusInd Bank, Bajaj Finance were among lead gainers. On the downside, only Tata Steel, Airtel, and ICICI Bank emerhed early losers. Among individual stocks, shares of Power Grid surged over 2 per cent after the board approved three investment proposals worth Rs 389 crore. 

#ABPLiveStockMarketWatch | Sensex and Nifty opened at new record highs during early morning trade on Friday.

At 09:55 AM, #Sensex went up by 432 points to 64,348 & #Nifty by 155 points to 18,972

Here's a look at the stocks in focus: #StockMarket #StockMarketPrices #Trading pic.twitter.com/1kyLUVyXEj

— ABP LIVE (@abplive) June 30, 2023

In the broader markets, Nifty Midcap 100, and Nifty Smallcap 100 indices gained up to 0.4 per cent.

Volatility gauge, India VIX, meanwhile, jumped 2 per cent.

Sectorwise, Nifty IT, Nifty PSU Bank, and Nifty Consumer Durables gained up to 1 per cent. On the other hand, Nifty Metal index inched lower in trade.

On Thursday, the National Stock Exchange and BSE remained closed on account of Bakri Eid (June 29). In the previous session on Wednesday, the Sensex ended with a gain of 499 points at 63,915, while the NSE Nifty 50 closed with a gain of 155 points at 18,972.

In Asian markets, Seoul, Shanghai, and Hong Kong traded in the green while Tokyo quoted lower. The US markets ended mostly with gains on Thursday.

"The global support to the bullishness is coming from the mother market US where the market is resilient supported by better-than-expected Q1 GDP growth of 2 per cent and declining weekly jobless claims. This resilience of the US economy, which was not anticipated and discounted by the market, is the strongest pillar of support for the global markets now," said V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

Global oil benchmark Brent crude climbed 0.40 per cent to $74.64 a barrel.

Foreign institutional investors (FIIs) bought equities worth Rs 12,350 crore on Wednesday, according to exchange data.

Meanwhile, the rupee traded almost flat at 82.02 against the US dollar in early trade on Friday amid gains in the domestic equities and firm crude oil prices. The rupee opened weak at 82.05 at the interbank foreign exchange market due to firm crude oil prices in the Asian trade. It moved in a tight range of 82.01 to 82.07 in early trade.

The local unit was trading at 82.02 against the US dollar at 0940 hours, showing gains of just 1 paisa over the last close of 82.03 on Wednesday. Forex markets were closed on Thursday on the occasion of Bakrid holiday.