Share Market Today: Sensex Hits Record High, Nifty Posts Best Close; Apollo Hospitals, HDFC Life Top Gainers
Live updates on India's equity markets on November 24.
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10-Year Bond Yield Falls
Yield on the 10-year bond fell 3bps to 7.25% at the close on Thursday.
Rupee Appreciates Against U.S. Dollar
The local currency appreciated by 22 paise to close at 81.62 on Thursday. It opened at 81.68 before gaining 24 paise to 81.60 during the day.
It closed at 81.85 on Wednesday.
India's stock benchmarks closed near all-time high with Sensex hitting its record high, led by broad-based gains amid sentiments on lower interest rate hikes by Federal Reserve.
Sensex closed 1.38% higher at 62,362.44 after hitting a all-time high of 62,412.33. Nifty 50 ended up 1.39% to 18,520.40 after hitting a 52-week high of 18,527.25.
Among Nifty 50 constituents, 44 stocks advanced and five declined and one remained unchanged. Apollo Hospitals Enterprise, HDFC Life Insurance Co, Bharat Petroleum Corp, Infosys, Tata Consumer Products were the top Nifty 50 gainers.
While, Cipla, Coal India, Kotak Mahindra Bank,Tata Motors and Bajaj Finance were the top laggards.
The broader indices underperformed their larger peers, with the mid-cap and small-cap indices gaining 0.52% and 0.42%, respectively.
Eighteen out of the 19 sectoral measures complied by BSE Ltd. advanced, with BSE Information & Technology and Teck gaining the most over 2%.
The market breadth is skewed in favour of the bulls. About 1,941 stocks rose, 1,557 fell and 137 remained unchanged.
Two triggers assisted the Sensex rally to record highs. One, in the mother market U.S., the market construct turned favourable with rising equities, declining bond yields and falling dollar. Two, macro developments in India show steady rise in credit growth and capex indicating strong economic recovery. Along with this, sharp correction in crude is a big positive. This has facilitated this Sensex rally led by large-caps, mainly the HDFC twins, Infosys, TCS and RIL.Dr. V K Vijayakumar, Chief Investment Strategist at Geojit Financial Services.
Sensex Hits Fresh Record High
Benchmark S&P BSE Sensex rose 1.3% to 62,298.3, a fresh record.
The previous record was 62,245.43.
Nifty is about 100 points off its record high.
Sensex, Nifty Hit Fresh 52-Week Highs
Benchmark S&P BSE Sensex rose over 1% to 62,168.17, a fresh 52-week high.
The NSE Nifty 50 too rose over 1% to 18,461.15