Stock Market Today: Nifty, Sensex End The Choppy Session At Record Highs As Infosys, TCS Lead

• The local currency closed 8 paise weaker against the US Dollar to 83.66.

• It closed at 83.58 on Tuesday.

• Alert: 83.66 a dollar is the rupee's lowest closing level against the greenback

Source: Congencis

Indian benchmarks settled a fresh highs for four consecutive sessions on Thursday as Tata Consultancy Services Ltd., Infosys Ltd. led.

The NSE Nifty 50 rose 187.85 points or 0.76% higher at 24,800.85, and the S&P BSE Sensex rose 626.91 points or 0.78% higher at 81,343.46.

During the second half of the trade, the Nifty 50 index rose 0.91% to a fresh high of 24,837.75, and the Sensex 1.00% to a fresh high of 81,522.55.

"The benchmark indices continued positive momentum, the Nifty ends 188  points higher while the Sensex was up by 627 points. Among Sectors, IT index outperformed rallied over 2.20% whereas Media index corrected sharply shed 3.5%, said Shrikant Chouhan, head equity research, Kotak Securities.

Technically, after a weak open market successfully surpassed the short-term resistance of 24,700/81,000 and post breakout it intensified positive momentum. On daily charts it has formed bullish candle on intraday charts it is holding breakout continuation formation which is largely positive, Chouhan said.

For the trend following traders now, 24,700/81,000 would act as a sacrosanct support zone. Above 24,700/81,000, the market could continue the positive momentum till 24,900-24,950/81,600-81,800. On the flip side, below 24,700/81,000  traders may prefer to exit out from the trading long positions. Below which it could retest the level of 24,500-24,475/80,400-80,300, he said.

Infosys Ltd., Tata Consultancy Services Ltd., Reliance Industries Ltd., ICICI Bank Ltd., and Mahindra & Mahindra Ltd. added to the benchmark.

HDFC Bank Ltd., Asian Paints Ltd., Coal India Ltd., Grasim Industries Ltd., and Hero MotoCorp Ltd. weighed on the index.

On NSE, five advanced, three declined, and four remained flat out of 12. The NSE Nifty Media declined the most, while the NSE Nifty IT rose the most. Earlier in the day the Nifty scaled a fresh high.

Broader markets underperformed benchmark indices. The S&P BSE Midcap and Smallcap ended 0.99% and 1.15% lower, respectively.

On BSE, 13 sectors advanced, seven declined out of 20. The S&P BSE Industrials was the worst performing sector, and the S&P BSE IT and TECK were the best performing sectors on Thursday.

Market breadth was skewed in favour of buyers. Around 2,497 stocks declined, 1,426 stocks rose, and 93 stocks remained unchanged on BSE.

• Revenue down 1% at Rs 5,633 crore vs Rs 5,692 crore

• EBITDA up 6.4% at Rs 1,124 crore vs Rs 1,056 crore

• EBITDA margin at 19.9% vs 18.6%

• Net profit up 3.4% at Rs 333 crore vs Rs 322 crore

• Net profit fell 0.4% at Rs 402 crore vs Rs 403 crore

• Revenue rose 21% at Rs 4,698 crore vs Rs 3,889 crore

• Ebitda rose 6.34% at Rs 583.38 crore vs Rs 548.56 crore

• Margin fell 168 bps at 12.41% vs 14.1%