Stock Market Today: Nifty Closes At New Record; Sensex Sees Best Winning Rally In Four Months
At 1:30 p.m., the Nifty was at 23,611 points, around 50 points away from its record high.
KEY HIGHLIGHTS
Rupee Ends At Record Low Against US Dollar
Nifty Closes At New Record; Sensex Sees Best Winning Rally In Four Months: Closing Bell
Rupee falls to record low tracking weaker yuan, say FX traders
EPFO Records Highest Addition Of 18.92 Lakh Net Members In April
Rupee Weakens To Record Low Against US Dollar
Rupee Ends At Record Low Against US Dollar
-The local currency weakened 20 paise to close at an all-time low of 83.65 against the US dollar.
-It closed at 83.45 on Wednesday.
Source: Bloomberg
Nifty Closes At New Record; Sensex Sees Best Winning Rally In Four Months: Closing Bell
The Nifty recovered from Wednesday's fall and the Sensex logged its best winning streak in four months to close at their highest levels as Reliance Industries and private banks led the gains.
The Nifty recorded its highest close of 23,567, up 51 points or 0.22% from previous close and the Sensex closed at its highest level of 77,478.93, up by 141.34 points or 0.18% .Intraday, both the indices gained over 0.4%.
"With a Spinning Top candlestick pattern, nothing has changed for Nifty50 i.e. lower side is protected at 23,340 while 23,660 will be considered as resistance," said Aditya Gaggar, director of Progressive Shares. "For the past couple of days, the Index has been oscillating in a range, breakout on either sides will provide a clear direction."
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Shares of Reliance Industries Ltd., ICICI Bank Ltd., HDFC Bank Ltd., Axis Bank Ltd., and Kotak Mahindra Bank Ltd. contributed the most to the gains.
While those of Mahindra & Mahindra Ltd., Sun Pharmaceutical Industries Ltd., Bharti Airtel Ltd., State Bank Of India, and NTPC Ltd weighed.
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Most sectoral indices were higher at close. Nifty Realty and Nifty Metal rose around 2%, the most.
Market breadth was skewed in favour of buyers. Around 2,291 stocks advanced, 1,546 stocks declined, and 138 stocks remained unchanged on BSE.
Broader markets outperformed benchmark indices. The S&P BSE Midcap and Smallcap settled 0.55% and 1.00% higher, respectively.
On BSE, 13 sectors advanced, and seven declined out of 20. The S&P BSE Realty rose the most, and the S&P BSE Auto declined the most among other sectors.
Jindal Stainless Supplies Freight Wagons
Supplies 100 freight wagons to Mozambique's Port of Nacala
Source: Exchange Filing
Rupee falls to record low tracking weaker yuan, say FX traders
Talks of yuan falling to 7.50/$ may put pressure on rupee
Dollar/yuan rate currently at 7.26 yuan per dollar
Traders expect rupee's fall limited to 83.75/$
Oil importers' month-end dollar demand may also weigh
EPFO Records Highest Addition Of 18.92 Lakh Net Members In April
Provisional payroll data shows 8.87 lakh new members enrolled with EPFO during April 2024
Increase of 31.29% seen in net member addition in April v/s March 2024.
New member data shows dominance of the 18-25 age group.
55.5% of the total new members in April 2024 are in the 18-25 age bracket
Among new members 2.49 lakh are new female members.
Net- member addition is highest in Maharashtra, Karnataka, Tamil Nadu, Gujarat and Haryana.
14.53 lakh members exited and subsequently rejoined EPFO
Source: PIB
