Sensex and Nifty Hit Record Highs, Private Banks,IT stocks Gain

Ira Singh
Khabar Khabaron Ki,04 April’24

The domestic equity market indices edged to new record highs supported by gains in Private banks and IT stocks to end the session on a positive note on Thursday,a day ahead of Reserve Bank of India (RBI) policy announcement.At close,the Sensex was up 350.81 points, or 0.47 percent,at 74,227.63 and the Nifty 80 points, or 0.36 percent, at 22,514.65, their best close ever.

HDFC Bank, Eicher Motors, Asian Paints, Tech Mahindra and Titan Company were the top gainers on the Nifty, while losers included ONGC, Shriram Finance, Adani Ports, BPCL and Bharti Airtel.

On the sectoral front,bank, power, information technology were up 0.5-1 percent, while the PSU bank and oil & gas index were down 0.7-1.6 percent.The BSE midcap index ended flat, while the smallcap index added 0.5 percent.

Rupee Close:
On 04 April’24,the Indian rupee witnessed a rebound in early trade on Thursday, and appreciated 11 paise to 83.42 against the US dollar, supported by positive domestic equities.

Elevated crude oil prices and sustained foreign fund outflows also dented investor sentiments, forex traders said.Moreover, market participants remained cautious ahead of the Reserve Bank’s rate-setting panel’s decision to be announced on Friday, traders said.

Trading Guide:
Market experts have recommended six intraday stocks for today — Yes Bank, Chambal Fertilisers, Tech Mahindra, IOL Chemicals, Himadri Speciality Chemical, and Honeywell Automation.