Stock Market Today: Nifty Ends At Record High After One-Day Drop As ITC, RIL Lead
Get live updates on Indian stock markets here Feb. 22.
KEY HIGHLIGHTS
FPIs Turn Net Sellers
Overseas investors turned net sellers of Indian equities on Thursday after a day of buying.
Rupee Strengthens Against U.S. Dollar
The local currency strengthened 12 paise to close at 82.85 against the U.S. Dollar.
It closed at 82.97 on Wednesday.
Source: Bloomberg
Nifty Ends At Record High After One-Day Drop As ITC, RIL Lead: Market Wrap
India's benchmark share indices recouped losses to end higher on Thursday with the NSE Nifty Index tasting fresh highs for a fourth consecutive session.
Rise in ITC Ltd., Reliance Industries Ltd., Tata Consultancy Services Ltd supported the benchmark indices' rally.
The NSE Nifty 50 ended 162.40 points or 0.74% higher at 22,217.45, and the S&P BSE Sensex settled 535.15 points or 0.74% up at 73,158.24.
The NSE Nifty 50 surged 0.9% or 197.45 points to a record high of 22,252.50 during the last leg of the trade.
Intraday, the NSE Nifty 50 declined 0.82% to 21,875.25, and the S&P BSE Sensex fell 0.75% to 72,081.36.
ITC Ltd., Reliance Industries Ltd., Tata Consultancy Services Ltd., Infosys Ltd., and Larsen & Toubro Ltd. added positively to the benchmark index.
HDFC Bank Ltd., Kotak Mahindra Bank Ltd., State Bank of India, IndusInd Bank Ltd., and Hindustan Unilever Ltd. limited gains to the benchmark index.
On NSE, 10 sectors out of 12 ended in positive, and two sectors ended in negative. The Nifty Index rose over 1% to become the best performer among sectoral indices, and the Nifty Bank index fell the most among sectoral indices.
Broader markets rose in line with the benchmark indices. The S&P BSE Midcap index rose 0.92%, and the S&P BSE Smallcap gained 0.54% .
On BSE, 19 out of 20 sectors ended higher and one declined. The S&P BSE Auto index rose the most among sectoral index, and the S&P BSE BANKEX index declined the most among peers.
Market breadth was skewed in favour of buyers. Around 2,101 stocks rose, 1,714 stocks declined, and 118 stocks remained unchanged on BSE.
Record High For Nifty
GMDC Board Approves Rs 3,041 Crore Capital Outlay
Gujarat Mineral Development Corporation Ltd.'s board approved Rs 3,041 crore capital outlay for FY25.
About Rs 1,138 crore will be allocated for new lignite projects, and Rs 629 crore to be allocated to expedite operationalisation of allotted coal blocks in Odisha.
Source: Exchange filing
