Stock Market Today: Sensex, Nifty Opens At All-Time Highs Pushed By IT, FMCG Gains

Stock Market Today: Following a two-day decline, the Nifty FMCG index bounced back, increasing by 0.5 per cent. ITC, Nestle, and Tata Consumer led the recovery, each advancing by about 1 per cent

Stock Market Today: Continuing their record-breaking streak, the Sensex and Nifty soared to new all-time highs on Thursday, fueled by gains in IT and FMCG stocks. This achievement marks the sixth straight session in which the benchmark indices have reached record levels, following the US Federal Reserve's launch of its monetary easing policy, which began with a 50 basis point interest rate cut on September 18.

At 10.05 AM, the Sensex rose by 187.91 points, or 0.22 per cent, reaching 85,357.78, while the Nifty 50 increased by 42.60 points, or 0.16 per cent, to hit 26,046.75. 

The Nifty IT index rose by 0.7 per cent, fueled by gains in major players such as Infosys, TCS, and HCLTech. Following a two-day decline, the Nifty FMCG index bounced back, increasing by 0.5 per cent. ITC, Nestle, and Tata Consumer led the recovery, each advancing by approximately 1 per cent. However, the broader market underperformed, with both the BSE Midcap and Smallcap indices falling by 0.3 per cent.

Gainers And Losers

Among individual stocks, Maruti Suzuki, Tata Motors, Bajaj Finserv, HCL Technologies and Infosys stood out as top performers on the BSE Sensex. Conversely, Power Grid, M&M, NTPC, HDFC and Kotak Mahindra Bank experienced declines, making them the session's biggest losers.

"There are no immediate near-term triggers that can take the market sharply up or down. Up moves may attract selling by FIIs who are likely to move some more money to China and Hong Kong since these markets are cheap and are witnessing an uptrend now," said V K Vijayakumar, Chief Investment Strategist, Geojit Financial Services.

Rupee Movement

The rupee fell 11 paise to 83.69 against the US dollar in early trading on Thursday, impacted by a strengthening dollar and rising crude oil prices. According to forex experts, foreign institutional investors (FIIs) turning net sellers on Wednesday further pressured the domestic currency. The local unit opened at 83.66 in the interbank foreign exchange market, down 8 paise from its previous close of 83.58 against the dollar.