Nifty Scales New Highs, Sensex Rises 150 Pts ahead of US Fed decision

Ira Singh
Khabar Khabaron Ki,12 June’24

The domestic share market indices extended morning gains, with the NSE index climbed to a new record high on Wednesday, ahead of the US CPI data and the US Fed policy outcome due later today.At close,the Sensex was up 149.98 points or 0.20 percent at 76,606.57, and the Nifty was up 58.10 points or 0.25 percent at 23,322.95. About 2284 shares advanced, 1159 shares declined, and 74 shares unchanged.

Highlights of trade:
●Nifty Smallcap 100 hits fresh 52-week high,
●Nifty hits fresh lifetime high,
●Tata Motors rally 2% as India biz turns debt free in FY24,
●Nifty Bank rises above 50,000 mark,
●Go Digit shares surge 5% after Mar-qtr PAT soars 104%,
●Morgan Stanley maintains Equal Weight rating on Titan,
●CLSA maintains an outperform rating on Tata Motors.

Coal India, Power Grid, SBI Life Insurance, Tech Mahindra and Eicher Motors were the top gainers on the Nifty, while losers included Britannia, HUL, M&M, Titan Company and Tata Consumer.

On the sectoral front, except FMCG and Realty, all other indices ended in the green with telecom, media, capital goods, metal, oil & gas and power up 1 percent each.BSE Midcap and Smallcap index gained 1 percent each.

Rupee Close:
On 12 June’24,the Indian rupee appreciated 5 paise to close at 83.54 against the U.S. dollar on Wednesday, boosted by positive sentiments in the domestic equity market.

Forex traders said rupee is trading in a narrow range as all eyes are on the U.S. May CPI print and the Fed rate decision on the global front and India’s Consumer Price Index (CPI) on the domestic front.

Trading Guide:
Market experts have recommend buying these 5 buy or sell stocks- Polycab India, Whirlpool, ICICI Bank, Berger Paints, and Tata Motors.