FINAL TRADE: Record closing on D-Street! Nifty at 23,399, Sensex leaps 204 pts
Stock market today: Benchmark equity indices settled at record closing highs on Thursday, June 13 led buying in IT stocks after US inflation data boosted expectations that the US Federal Reserve would lower interest rates sooner rather than later.
Stock market today: Benchmark equity indices settled at record closing highs on Thursday, June 13 led buying in IT stocks after US inflation data boosted expectations that the US Federal Reserve would lower interest rates sooner rather than later.
The positive trend also followed after retail inflation declined in May. The government data showed India's CPI (Consumer Price Index) easing to 4.75 per cent in May 2024, it was 4.83 per cent in April 2024.
The 30-share BSE Sensex jumped 204.33 points or 0.27 per cent to settle at a record 76,810.9, after scaling an all-time high of Rs 77,145.46. NSE Nifty rallied 75.95 points or 0.33 per cent to settle at a record 23,398.9, after scaling a fresh all-time high of 23,481.05.
"The domestic equity benchmark traded with a modest gain, with domestic CPI data indicating that inflation is on a slow track of decline. A similar trend is reported in the US CPI, which brought down the market expectation from 2 rate cuts in CY24 to 1, which is having a mixed effect on the global markets," Vinod Nair, Head of Research, Geojit Financial Services said.
"In the domestic broader market, the realty and consumer durables sectors took the lead owing to government initiatives to revive the affordable housing segment," he added.
Among the Nifty companies, 35 were advancing while 15 were declining. Shriram Finance, M&M, HDFC Life, Divi's, and Titan led the gains in the Nifty 50 universe while HUL, Eicher Motors, Axis Bank, Power Grid, and Britannia were the top decliners.
The domestically focussed Nifty SmallCap 100 and Nifty MidCap100 settled at 0.67 per cent and 0.79 per cent, respectively.
The high-beta Nifty Bank index, whose 12 constituents include SBI, HDFC Bank, and ICICI Bank finished 0.1 per cent or 48.4 points lower at 49,846.7.
Global Market
Global shares were trading mixed on Thursday after the Federal Reserve opted to keep its benchmark interest rate unchanged. Shares were mostly lower in early trading in
Last seen, the continent-wide STOXX 600 was down 0.5 per cent.
(With agency inputs)
For all other news related to business, politics, tech and auto, visit Zeebiz.com.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.