Stock Market Today: Nifty, Sensex Extend Gains To Fifth Session; Close At Over One-Month High
Intraday, the Nifty rose as much as 1.6% to 24,857.75, its highest level since October 22 and Sensex added as much as 1.68% to 82,317.74, its highest level since October 9.
KEY HIGHLIGHTS
US Futures Decline
As of 3:27 p.m., S&P 500 and Nasdaq 100 future fell 0.05% and 0.14% down, respectively. The Dow Jones Industrial future remained flat.
Economic Data, Events Later Thursday
All: OPEC-JMMC Meetings
US: Challenger Job Cuts YoY
US: Unemployment Claims
US: Trade Balance
US: Natural Gas Storage
UK: MPC Member Greene Speaks
Nifty, Sensex Extend Gains To Fifth Session; Close At Over One-Month High: Market Wrap
Benchmark equity indices turned volatile in the last hour of trade but still managed to close at their highest levels in more than a month tracking records made by their US peers.
Intraday, the Nifty rose as much as 1.6% to 24,857.75, its highest level since October 22 and Sensex added as much as 1.68% to 82,317.74, its highest level since October 9. Nifty ended 1.12% or 274.70 points higher at 24742.15 and Sensex closed 1.19% or 961.90 points up at 81918.23.
Investors now look forward to the outcome of the meeting of monetary policy committee due Friday along with outcome of OPEC meeting. They will also track US unemployment claims.
It appears that the market has already digested tomorrow's MPC outcome, according to Aditya Gaggar, director of Progressive Shares.
"The positive trend is likely to continue but considering the strong rally of the past 4 days, a minor correction is anticipated; however, the Index is heading towards the psychological barrier of 25,000 whereas the support has shifted higher to 24,550," he said.
Share price of Infosys Ltd., ICICI Bank Ltd., Tata Consultancy Services Ltd., Bharti Airtel Ltd., and Reliance Industries Ltd. contributed the most to the gains.
While those of NTPC Ltd., Bajaj Auto Ltd., HDFC Life Insurance Ltd., SBI Life Insurance Ltd., and Grasim Industries Ltd. minimised the gains.
Most sectoral indices rose with Nifty IT recording its highest close.
Market breadth was skewed in favour of buyers. Around 2,144 stocks advanced, 1,821 stocks declined, and 118 stocks remained unchanged on BSE.
Broader markets underperformed. The BSE Midcap and Smallcap indices ended 0.27% and 0.16% higher, respectively.
On BSE, 19 sectors ended higher, one declined, and one remained flat out of 21. The BSE Focused IT rose the most, and the BSE Realty declined the most.
Markets At Close
Nifty and Sensex ends higher for a fifth session to record highest close in around a month
Intraday, the Nifty rose as much as 1.6% to 24,857.75, its highest level since October 22 and Sensex added as much as 1.68% to 82,317.74, its highest level since October 9.
Nifty ends 1.12% or 274.70 points higher at 24742.15
Sensex ends 1.19% or 961.90 points up at 81918.23
Broader indices underperformed. Nifty Midcap 100 ended 0.6% up; Nifty Smallcap 250 closed 0.48% higher
Most sectoral indices rose with Nifty IT recording its highest close
TCS and Infosys were top Nifty gainers
SBI Life and Bajaj Auto fell the most
Rupee Ends Flat Against US Dollar
Rupee closed flat at 84.73 against the US dollar.
It closed at 84.73 on Wednesday.
Source: Bloomberg
