Market Momentum, Sensex and Nifty Hit Record Highs, RIL Gains 4%

Ira Singh
Khabar Khabaron Ki,26 June’24

The domestic share market indices continued their record run for a second consecutive session on Wednesday, with Nifty crossing 23,850 for the first time ever led by banks and heavyweights.At close, the Sensex was up 620.73 points or 0.80 percent at 78,674.25, and the Nifty was up 147.50 points or 0.62 percent at 23,868.80.BSE Sensex and Nfity50 indices hit new record highs of 78,759.40 and 23,889.90, respectively.

The Nifty Bank index also hit a fresh record high as it went closer to 53,000.

Highlights from trade:
●Nifty Bank hits fresh all-time high,
●Allied Blenders IPO booked 82% so far on Day 2,
●Mazagon Dock up 6% after bagging Navratna status,
●Anil Agarwal likely pares Vedanta stake via block deal; stock sheds 4%,
●DEE Development lists at 67% premium over IPO price.

Reliance Industries, UltraTech Cement, Bharti Airtel, ICICI Bank and Grasim Industries were the biggest gainers on the Nifty, while losers included Apollo Hospitals, Bajaj Auto, M&M, Tata Steel and Hindalco Industries.

On the sectoral front, bank, oil & gas, telecom, media and FMCG were up 0.3-2 percent, while auto, metal and realty fell 0.7-1.5 percent.The BSE midcap index was down 0.30 percent while the smallcap index ended on a flat note.

Rupee Close:
On 26th June’24,the Indian rupee depreciated 17 paise at 83.60 against the US dollar on Wednesday , weighed down by the strength of the American currency in the overseas market and elevated crude oil prices.However, a firm trend in domestic equities, wherein benchmark indices scaled new peaks, supported the local unit and restricted the downslide, forex traders said.

Trading Guide:
Positive expectations from the upcoming budget and increased investor interest in largecap stocks seem to be fuelling the upbeat sentiments in markets, believe experts.

Market experts have recommended buying these five buy-or-sell stocks — Axis Bank, GRSE, IndiGo, Havells India, and DLF