Sensex surges 385 pts, ends atop 66K,Nifty reclaims 19700;L&T,Banks lead

Sensex surges 385 pts, ends atop 66K,Nifty reclaims 19700;L&T,Banks lead

Ira Singh
7 Sep’23

The Indian equity market indices ended higher for the fifth straight session on Thursday, shrugging off weak global cues and helped by gains in capital goods, bank, and realty, as the Nifty reclaimed the important 19,700 mark.

At close, the Sensex was up 385.04 points, or 0.58 percent, at 66,265.56, and the Nifty 116 points, or 0.59 percent, at 19,727.05.

Stocks and Sectors

Coal India, L&T, IndusInd Bank, SBI Life Insurance and Tech Mahindra were top gainers on the Nifty, while losers included Tata Consumer Products, M&M, Britannia Industries, Sun Pharma and Infosys.

On the sectoral front,except FMCG and pharma, all indices traded in the green. Bank, capital goods, PSU Bank, power and realty up 1-2 percent.

The BSE midcap index gained 0.8 percent and the smallcap rose 0.4 percent.

On 7 Sep’23,the Indian rupee hit a fresh record low on a closing basis against the US dollar following decline in Asian currencies, driven by expectations of strong demand for the dollar due to resilient US yields. Regular RBI interventions have effectively limited depreciation, traders said.Rupee depreciates 9 paise to end at record closing low of 83.21 against the US dollar on Thursday.

Experts Take:
Market experts have recommended six stocks to buy for Thursday-Cipla, Marico, Siemens, Texrail, TNPL and ITC.