The stock market ended in green on Thursday at record closing highs after paring partial intraday gains.
Sensex opened at a record high of 77,102.05, and pared some gains to close at 76,810.90, up 204.33 points, or 0.27 per cent. The index surged to create a fresh all-time high of 77,145.46.
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On the other hand, the Nifty 50 opened at a record high of 23,480.95, and closed at 23,399.90, up 75.95 points, or 0.33 per cent. The index climbed to a fresh all-time high of 23,481.05 during the day.
On BSE Sensex, Hindustan Unilever, Power Grid Corp., Axis Bank, Bharti Airtel, and ICICI Bank, were the top drags. Mahindra & Mahindra, Titan, Larsen & Toubro, IndusInd Bank, and Tech Mahindra, were the top gainers for the day.
On the Nifty 50, Hindustan Unilever, Eicher Motors, Axis Bank, Power Grid Corp, and Britannia Industries, were the top drags.
Shares of Shriram Finance, Mahindra & Mahindra, HDFC life, Divi’s Laboratories, and Titan were the top gainers for the day.
The broader market outperformed the benchmarks with both BSE Midcap and Smallcap rising nearly 1 per cent each. The volatility index, India VIX, declined over 7 per cent to 13.4.
Among the sectors, Nifty Realty and Nifty IT were the major gainers as they rose 2 per cent and 1 per cent respectively. Meanwhile, Nifty Media and Nifty FMCG were the worst hit, declining 1 per cent and 0.6 per cent.
Shriram Finance Ltd surged over 4 per cent to reach an all-time high of Rs 2,679. This milestone pushed the company’s overall market capitalization past the Rs 1 lakh crore mark.
Global rating agency Moody’s said the Indian banks are likely to log in a 12-14 per cent growth in credit disbursal over the next 12 to 15 months on the back of a revival in demand in the economy.
Shares of Whirlpool of India surged up to 1.8 per cent to touch a fresh 52-week high of Rs 1,827 a piece on Thursday after it announced a new marketing alliance for Surf Excel in partnership with Hindustan Unilever.
On global parameters, the STOXX 600 (stock index of European stocks) was down 0.5 per cent as of 0828 GMT, after closing around 1 per cent higher in the previous session.
The Fed held interest rates steady on Wednesday and pushed out the start of rate cuts to perhaps as late as December, with the central bankers projecting only one quarter-point rate cut this year from three projected in March.
European equities have pulled back from last week’s record highs hit on the back of the European Central Bank’s rate cut, as investors assessed France’s political uncertainty.
