Stock Market Today: Nifty, Sensex End At Fresh Highs For Second Day As RIL, ITC, Airtel Gain
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KEY HIGHLIGHTS
Yield On The 10-Year Bond Ends Flat
The yield on the 10-year bond closed flat at 7.21% on Thursday.
Source: Bloomberg
Rupee Strengthens Against The U.S. Dollar
The local currency strengthened 18 paise to close at 83.17 against the U.S dollar on Thursday.
It closed at 83.35 on Wednesday.
Source: Bloomberg
Nifty, Sensex End At Fresh Highs For Second Day As RIL, ITC, Airtel Gain: Market Wrap
India's benchmark indices ended at record high for second day in a row on Thursday as ITC Ltd, Mahindra & Mahindra Ltd., and Reliance Industries Ltd rose.
The BSE Sensex ended 0.52% higher at 72,410.38, while the NSE Nifty 50 settled 0.57% higher at 21,778.70.
Moreover, the benchmark indices also continued their winning streak for fourth consecutive day.
The Bank Nifty Index also touched a life-time high of 48,636.45, and ended the day 0.47% higher at 48,508.55.
The benchmark indices ended at record high on Wednesday with the Sensex crossing 72,000, and Nifty 50 crossing 21,600 level for the first time.
"Our view is that the current market structure is bullish but due to temporary overbought condition, we may see some profit booking at higher levels. Now for trend traders, 21500/71500 should act as a key support level," Shrikant Chouhan, equity research head at Kotak Securities said.
"The strategy should be to reduce weak long/long positions between 21800 and 21900 levels," he added.
Reliance Industries Ltd, ITC Ltd, NTPC Ltd, Mahindra & Mahindra Ltd, and HDFC Bank Ltd added positively to the indices.
Larsen & Toubro Ltd, Tata Consultancy Services Ltd, Adani Enterprises Ltd, Infosys Ltd, and Adani Ports and Special Economic Zones weighed on the indices.
On NSE, 12 out of 14 sectors advanced with the Nifty PSE rising 2.35% to be the top gainer among sectoral indices. Nifty IT declined 0.14% and was the top loser among sectoral indices.
Broader markets rose, with S&P BSE MidCap index rising 0.66%, and S&P BSE SmallCap gaining 0.23%. Around 18 sectors out of 20 sectors compiled by the BSE advanced. BSE Oil and Gas was the top gainer among sectoral indices on BSE.
"A mixed trend was seen in the Broader markets where Midcap performed in line with the Benchmark Index while Smallcaps outperformed. One more bullish candle was formed on the daily chart but at the same time, the Index is about to enter an extremely overbought condition as well. There is a possibility of bearish divergence, although it is too premature to say," said Aditya Gaggar, director, Progressive Shares.
The market breadth was skewed in the favour of sellers. About 1,825 stocks rose, 1,963 declined, while 132 remained unchanged on the BSE.
Central Bank Of India Inks Co-Lending Partnership With Saison Kisetsu
Central Bank Of India in co-lending partnership with Kisetsu Saison Finance for MSME loans.
Source: Exchange Filing
L&T Completes L&T Sapura Acquisition
Larsen & Toubro Ltd has completed the acquisition of entire shareholding of Sapura Nautical Power Pte Ltd in L&T Sapura Offshore Private Limited on Wednesday
Source: Exchange Filing
