Stock Market Today: Nifty Closes At Record High After Two-Day Fall

-The local currency closed 2 paise higher against the U.S. Dollar at 83.55.

-It closed at 83.57 on Tuesday.

Source: Cogencis

Benchmark equity indices came out of their two-day fall and closed higher on Wednesday led by shares of heavyweights. The Nifty 50 closed at their highest ever level.

Market players now await key inflation data of India and US along with the US Federal Reserve's decision on interest rates.

The Nifty closed at 23,322,95, up by 58.10 points or 0.25% and the Sensex closed at 76,606.57, higher by 149.98 points or 0.2%. Intraday, the Nifty refreshed its lifetime high to 23,441.95.

Shares of HDFC Bank Ltd., Reliance Industries Ltd., Larsen & Toubro Ltd., Power Grid Corp. Of India Ltd., and Coal India Ltd. contributed the most to the gains.

While those of Mahindra & Mahindra Ltd., Infosys Ltd., Hindustan Unilever Ltd., Tata Consultancy Services Ltd., and Axis Bank Ltd. weighed on the Nifty.

Most sectoral indices ended higher with Nifty Media gaining the most. Nifty FMCG was the top loser.

Broader markets outperformed benchmark indices. The S&P BSE Midcap and Smallcap indices ended 1.07% and 1.06%, respectively.

On BSE, 18 sectors advanced and two declined out of 20. The S&P BSE Industrial rose the most among other sectors, while the S&P BSE FMCG declined the most.

Market breadth was skewed in favour of buyers. Around 2,550 stocks advanced, 1,336 stocks declined, and 105 stocks remained unchanged on BSE.

• SpiceJet discontinued flights from Hyderabad to Ayodhya.

• The flight is discontinue two months after launching it.

Source: NDTV

• DCB Bank Ltd. has approved the appointment of Krishnan Seshadri as executive director for two years with effect from Thursday.

Source: Exchange filing