Finance
Share Market News Today | Sensex, Nifty, Share Prices Highlights: The benchmark equity indices ended Thursday’s trading session in the positive territory. The BSE Sensex surged 692.27 points, or 0.93%, to 75,074.51, while the NSE Nifty 50 gained 201.05 points, or 0.89%, to close at 22,821.40. The large-cap and mid-cap equities led the gains in the overall indices, which concluded in positive territory. The Bank Nifty index closed at 49,291.90, up 237.30 points, or 0.48%. Among the other sectors indices, Media and Realty companies did better, while Pharma and FMCG stocks declined.
The NSE Nifty 50 gained 0.89% to settle at 22,821.35, while the BSE Sensex jumped 0.92% to 75,074.51.
HCL Technologies, SBI Life Insurance, Tech Mahindra, Sriram Finance, and State Bank Of India are the top gainers on NSE Nifty 50 index whereas the top laggards include Hindalco Industries, Hero MotCorp, Hindustan Unilever, Asian Paints and Nestle India.
Commenting on the US Dollar Rupee outlook Anuj Choudhary – Research Analyst at Sharekhan by BNP Paribas said that Indian Rupee depreciated by 0.07% today on surge in crude oil prices and selling pressure from FIIs. However, weak US Dollar and positive tone in the domestic markets supported the Rupee at lower levels. US Dollar fell on disappointing labour market data which hinted as cooling jobs markets, making a case for interest rate cut by the US Federal Reserve in 2024. ADP non-farm employment added 152,000 jobs in May 2024 vs 188,000 jobs in April 2024 and expectations of 173,000 jobs. However, ISM services PMI rose unexpectedly to 53.8 in May 2024 vs 49.4 in April 2024, which provided some support to the Dollar.
Choudhary also added We expect Rupee to trade with a slight negative bias on worries over rising crude oil prices and as FIIs continue to sell in the markets. However, positive tone in the domestic markets as NDA is expected to come back to power for the third consecutive term, raising optimism over policy continuity may support the Rupee at lower levels. Traders may take cues from weekly unemployment claims and trade balance data from the US. Investors may remain cautious ahead of RBI’s monetary policy decision tomorrow. USDINR spot price is expected to trade in a range of Rs 83.20 to Rs 83.80.
The NSE Nifty was up 164 points or 0.73% at 22,785, while the BSE Sensex was up 528 points or 0.71% at 74,911.
The NSE Nifty 50 opened 0.32% higher at 22,692.55, while the BSE Sensex opened 0.43% higher at 74,698.66.
The US Dollar Index (DXY), which measures the dollar’s value against a basket of six foreign currencies, traded down 0.16% at 104.08.
The Wall Street or US market closed soared reaching their new lifetime highs as Nvidia led the tech stocks rally and weak labour market data bolstered the hope of an interest rate cut later this year. The tech-heavy Nasdaq Composite jumped 331 points or 1.96% to end at 17,187.90. The S&P 500 advanced 1.18% to 5,354.03. The Dow Jones Industrial Average rose 0.25% to 38,807.33.
Source:FE
