Stock Market Today: Nifty Rangebound Near 23,300, Sensex Closes Above 77,000; HDFC Life, BEL Top Gainers
Indian equities continue to trade higher with Nifty being rangebound around 23,300 and Sensex trading 76,999.
US Futures Advance Ahead Of US Retail Sales Data
At 3:30 p.m., futures contract of Dow Jones was up 0.2% to 43,228.3, that of S&P 500 was also 0.14% up at 5,997.50, and Nasdaq 100 futures contract was 0.25% up at 21,454.25.
Stock Market Highlights: Nifty, Sensex Extend Gains For Third Straight Session
The NSE Nifty 50 and BSE Sensex extend gains for the third straight session on Thursday, ahead of Reliance Industries Ltd., Infosys Ltd., and Axis Bank Ltd. third quarter results. After a positive opening the Nifty 50 was range bound near 23,300.
The Nifty 50 ended 318.74 points or 0.42% higher at 23,311.80, and the Sensex ended 318.74 points or 0.42% higher to 77,042.82. During the session, the Nifty 50 rose 0.77% or 178.45 points at 23,391.65. The Sensex rose 0.78% or 595.42 points higher at 77,319.50.
HDFC Life Insurance Co. and Bharat Electronics Ltd. were top gainers in the Nifty 50 index on Thursday.
"Despite a strong opening, the Index struggled to build on the initial momentum and remained rangebound," said Aditya Gaggar Director of Progressive Shares.
"Technically, after a gap-up opening, the market registered some selling pressure at higher levels; however, it succeeded to close above the 23,300/ resistance mark, which is largely positive," added Shrikant Chouhan, Head Equity Research, Kotak Securities.
ICICI Bank Ltd., Reliance Industries Ltd., HDFC Bank Ltd., HDFC Life Insurance and Bharti Airtel Ltd. added to the Nifty 50 index.
Infosys Ltd., Tata Consultancy Services Ltd., Trent Ltd., ITC Ltd. and HCL Technologies Ltd. weighed on the Nifty 50 index.
On NSE, nine sectors advanced, and three declined. The NSE PSU Bank rose the most, and the Nifty FMCG declined the most.
Broader markets outperformed benchmark indices. The BSE Midcap and Smallcap indices were trading 0.92% and 1.43% higher, respectively.
On BSE, 16 sectors advanced, and five declined out of 21. The BSE Services rose the most, while the BSE FMCG declined the most.
Market breadth was skewed in favour of buyers. Around 2,777 stocks advanced, 1,188 stocks declined, and 102 stocks remained unchanged on BSE.
Stock Market At Closing
Nifty and Sensex extend gains for the third straight session.
Intraday, both Nifty and Sensex had risen 0.77% each.
Nifty ends 0.42% or 98.60 points up at 23,311.80.
Sensex ends 0.42% or 318.74 points higher at 77,042.82.
Broader indices outperformed. Nifty Midcap 100 ended 1.08% up; Nifty Smallcap 250 closed 1.21% higher.
Most sectoral indices rose with Nifty PSU Bank rising the most.
HDFC Life and BEL were top Nifty gainers.
Trent, DRL and Tata Consumers fell the most.
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