Stock Market Today: Nifty Clocks Longest Gaining Streak In Nearly Four Years To End At Record High

• Rupee weakened by 4 paise to close at 83.96 against the US dollar.

• It closed at 83.92 on Tuesday.

Source: Bloomberg

Benchmark equity indices continued their uptrend with the Nifty recording its best gaining streak since October 2020 to close at its lifetime high and the Sensex extending gains to a seventh consecutive session.

Intraday, the Nifty rose as much as 0.45% to its highest level of 25,129 and the Sensex rose as much as 0.40% to 82,039.65, 90 points shy of its lifetime high.

The Nifty ended 0.14% or 34.6 points higher at 25052.35 and the Sensex ends 0.09% or 73.80 points higher at 81785.56.

For Nifty, according to Aditya Gaggar, director of Progressive Shares, "A break below 24,970 will drag the Index further lower towards 24,840; while on the flip side, a firm close with a bullish candle above 25,100 is a must to continue its northward journey."

Shares of Infosys Ltd., Bharti Airtel Ltd., LTIMindtree Ltd., Wipro Ltd., and Sun Pharmaceutical Industries Ltd. contributed the most to the gains in Nifty.

While those of State Bank Of India, Axis Bank Ltd., ICICI Bank Ltd., Kotak Mahindra Ltd., and Maruti Suzuki Ltd. limited the upside.

Most sectoral indices ended lower; Nifty IT was the top gainer and Nifty Media fell the most.

Market breadth was skewed in favour of sellers. Around 2,129 stocks declined, 1,837 stocks rose, and 90 stocks remained unchanged on BSE.

Broader markets underperformed benchmark indices. The BSE Midcap ended 0.04% higher and Smallcap indices ended 0.12% lower.

On BSE, 15 sectors declined, and five advanced out of 20. The BSE Teck rose the most, and the BSE Utilities declined the most.

• Nifty ends higher in the tenth consecutive session to record highest close

• Nifty's best winning streak since 10 sessions ended Oct 14, 2020.

• Sensex ends higher for seventh consecutive session

• Nifty also recorded its fresh intraday high of 25,129.60

• Nifty ends 0.14% or 34.6 points higher at 25052.35

• Sensex ends 0.09% or 73.80 points higher at 81785.56

• Broader indices underperformed; Nifty Midcap 100 ended 0.12% down and Nifty Smallcap 250 fell 0.22

• Most sectoral indices ended lower; Nifty IT was the top gainer and Nifty Media fell the most

• LTIMindtree and Wipro were top Nifty gainers

• Adani Enterprises and Asian Paints were top losers among Nifty stocks

• Approved smart cities worth Rs 28,602 crore

• Projects to have investment potential of Rs 1.52 lakh crore

• Projects to be spread across 10 states and six corridors

Approved:

• Five Projects in Amritsar Kolkata Industrial Corridor

• Two Projects in Delhi Mumbai Industrial Corridor

One Project each in:

• Vizag Chennai Industrial Corridor

• Hyderabad Bengaluru Industrial Corridor

• Hyderabad Nagpur Industrial Corridor

• Chennai Bengaluru Industrial Corridor

Source: Ashwini Vaishnav at cabinet briefing

Signs term sheet to lease to DEE the pipe automation equipment for the performance of automated pipework fabrication along with a non-exclusive license to utilize.

Source: Exchange Filing