Stock Market Sees Fresh Highs In Morning Trade, Nifty Above 21,700, Sensex Rises Over 250 Points

In the broader markets, the indices were trading in green. The Nifty Smallcap 50 and Smallcap 250 were leading the gains and trading up by 0.43 per cent and 0.35 per cent respectively. 

Sectorally, the Nifty Media and Realty indices remained the only laggards and were trading at a loss of 0.63 per cent and 0.41 per cent respectively.

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The two key equity benchmarks, Sensex and Nifty, on Thursday, advanced higher to touch fresh peaks in morning trade and continued their rally in the week. The BSE Sensex hit a new lifetime high of 72360.51, while the NSE Nifty50 reached a fresh peak of 21,745.60. 

At 9:39 AM, the Sensex was trading at 72,309.84, after gaining over 270 points, while the Nifty stood at 21,726.40, up by 71.65 points.  

On the 30-share Sensex platform, Bajaj Finserv, M&M, NTPC, Nestle India, and JSW Steel emerged among the prime gainers. On the flip side, UltraTech Cement, Asian Paints, Tech M, Infosys, and L&T were among those trading in the red.

In the broader markets, the indices were trading in green. The Nifty Smallcap 50 and Smallcap 250 were leading the gains and trading up by 0.43 per cent and 0.35 per cent respectively. 

Among specific stocks on the NSE, Hero MotoCorp advanced 1.72 per cent, followed by Bajaj Finserv, trading up by 1.34 per cent. 

Sectorally, the Nifty Media and Realty indices remained the only laggards and were trading at a loss of 0.63 per cent and 0.41 per cent respectively. Among the gainers, the Nifty PSU Bank index remained ahead and climbed over 1 per cent in the morning. 

In the previous session on Wednesday, the equity benchmarks closed higher for the fourth consecutive session. The S&P BSE Sensex hit a fresh lifetime high of 72,098. It ended at 72,038, up 702 points. On the other hand, the NSE Nifty50 hit a new record high of 21,676 during intra-day trading. But it settled at 21,655, up 213 points.

The domestic rupee appreciated 8 paise to touch 83.26 against the US dollar in early trade, amid a positive trend in the domestic equity markets. Forex traders credited the strength of the domestic currency to the strong equity buying by foreign institutional investors (FIIs). 

V K Vijayakumar, chief investment strategist, Geojit Financial Services, noted, "Strong cues from the mother market US, steadily declining US bond yields and the dollar index below 101 augur well for the continuation of the rally."

At the interbank foreign exchange, the Indian rupee opened at 83.33 and climbed to touch 83.26 against the American dollar.  A day earlier, the domestic currency closed at 83.34 against the greenback. 

Global oil benchmark Brent crude gained 0.08 per cent to touch $79.71 a barrel. FIIs purchased equities worth Rs 2,926.05 crore on Wednesday, official data from the exchange revealed.