Stock Market Today: Indices At Record High. Sensex Rises 460 Points; Nifty Trades Around 21,300

Stock update: On the 30-share Sensex platform, Infosys, HCLTech, TCS, JSW Steel, TechM, Tata Steel, Wipro emerged gainers. Nestle, Axis Bank, HUL, ITC, Kotak Bank, Bajaj Finserv were among the losers

The two key equity benchmarks, Sensex and Nifty, on Friday were trading higher amid a global rally following US Fed's dovish approach. At 10.20 am, the BSE Sensex jumped 461 points to 70,975. On the other hand, the NSE Nifty50 was trading at 21,327, up 144 points. The frontline indices are now trading in their fresh lifetime highs.

On the 30-share Sensex platform, Infosys, HCLTech, TCS, JSW Steel, TechM, Tata Steel, Wipro emerged gainers. On the downside, Nestle, Axis Bank, HUL, ITC, Kotak Bank, Bajaj Finserv were among the losers.

In the broader markets, the BSE Midcap and Smallcap indices gained 0.44 per cent and 0.65 per cent higher, respectively.

A total of 2,048 shares rose, 895 shares declined, while 100 shares unchanged.

Sectorally, all the indices are trading in the green. Nifty IT, Media, and Metal indices advanced up to 1.5 per cent. Nifty PSU Bank rose 0.5 per cent, while Nifty Bank, Pharma, Private Bank, and Realty indices went up by 0.3 per cent.

In the previous session on Thursday, Sensex closed with a gain of 930 points at 70,514, while the NSE Nifty50 settled at 21,182, up 256 points.

"Wall Street experiences an early Christmas as the Fed hints at easing interest-rate policy in 2024. Nifty is poised to surge into uncharted territory, with a trading range of 20,500-21,500," said Prashanth Tapse, Senior VP (Research), Mehta Equities Ltd.

In Asian markets, Seoul, Tokyo, Shanghai, and Hong Kong were trading with gains. The US markets ended higher on Thursday.

Foreign Institutional Investors (FIIs) bought equities worth Rs 3,570.07 crore on Thursday, according to exchange data.

Global oil benchmark Brent crude climbed 0.55 per cent to $77.03 a barrel.

Meanwhile, the Indian rupee traded flat at 83.30 against the US currency in the opening session on Friday amid a rebound in crude oil prices. While foreign fund inflows and a weak greenback in the overseas markets strengthened the local unit, a recovery in crude oil prices weighed on the sentiment, forex dealers said.

At the interbank foreign exchange market, the rupee opened flat at 83.30 against the dollar. It moved in a tight range of 83.32 and 83.29 in morning deals. The US dollar index, which measures the greenback's strength against a basket of six currencies, eased by 0.02 per cent to 101.94.