Markets rise for 9th straight day, Nifty crosses 20K mark for 1st time
Rupee depreciates by 6 paise to 83.01 against US dollar
: Benchmark Sensex rose for a ninth straight session while Nifty closed above the record 20,000 mark for the first time on Wednesday as positive macroeconomic data triggered buying in banking, energy and telecom shares.
The 30-share BSE Sensex bounced back from early lows to trade near its all-time high levels at 67,565.41 in day trading. Sensex hit the all-time intra-day high of 67,619.17 on July 20, 2023.
The barometer finally settled at 67,466.99, up 245.86 points or 0.37 per cent, extending its gains to a ninth straight session - the longest winning streak in last five months. As many as 20 Sensex shares closed in the green while 10 declined.
The broader Nifty closed above the 20,000 mark for the first time, rallying 76.80 points or 0.38 per cent to 20,070, its all-time closing high. Of 50 Nifty shares, 31 closed higher and 19 declined.
Among the Sensex firms, Bharti Airtel rose the most by 2.72 per cent. Titan, IndusInd Bank, Axis Bank, State Bank of India, Power Grid, NTPC and Tata Motors were among the among the major gainers.
Mahindra & Mahindra, Larsen & Toubro, Nestle, JSW Steel, Infosys and Tata Consultancy Services, Tech Mahindra and Maruti were the major laggards.
Retail inflation declined to 6.83 per cent in August after touching a 15-month high of 7.44 per cent in July, mainly due to softening prices of vegetables, but still remains above the Reserve Bank’s comfort zone.
India’s industrial production growth rose to a five-month high of 5.7 per cent in July, mainly due to good showing by the manufacturing, mining and power sectors, according to official data released on Tuesday.
In the broader market, the BSE smallcap gauge climbed 0.85 per cent and midcap index gained 0.19 per cent.
Among the indices, telecommunication consumer durables climbed 1.24 per cent, energy gained 1.19 per cent, oil & gas (1.13 per cent), metal (1.04 per cent), commodities (0.96 per cent) and bankex (0.89 per cent). Industrials, IT, auto, capital goods and services were the laggards.
The rupee depreciated by 6 paise to close at 83.01 against the US dollar on Wednesday, weighed down by a surge in crude oil prices and strong American currency overseas.
Global oil benchmark Brent crude climbed 0.66 per cent to $92.56 a barrel.
Foreign Institutional Investors (FIIs) offloaded equities worth Rs 1,047.19 crore on Tuesday after a day’s breather, according to exchange data.
