Stock markets update: The stock market reached new high on Thursday as the Sensex surged 157.14 points to open at an all-time excessive of 85,327.01 in the early trade. Meanwhile, Nifty 50 index also gained 35.90 points to touch a fresh high of 26,040.05. The equity benchmark indices opened in green amid positive global cues.
Major gainers and laggards
In the Nifty pack, the top gainers included Maruti, which saw a 1.52% rise, followed by SBI Life with a 1.49% increase, Tata Consumer up by 1.05%, LTI Mindtree gaining 0.91%, and Nestlé India rising by 0.90%. On the other hand, shares of Hero MotoCorp dropped 2.27%, ONGC fell by 1.17%, Hindalco by 0.79%, PowerGrid by 0.78%, and NTPC saw a 0.61% decline.
Sectoral indices performance
In early trading, the Nifty IT index led the gains with a 0.88% increase. Other sectors showing positive movement were Nifty Financial Services up by 0.02%, Nifty FMCG gaining 0.46%, Nifty Pharma up by 0.04%, Nifty Realty increasing by 0.12%, and Nifty Healthcare up by 0.05%.
Meanwhile, declines were seen in Nifty MidSmall Healthcare (down 0.24%), Nifty Oil & Gas (down 0.63%), Nifty Consumer Durables (down 0.84%), Nifty Private Bank (down 0.06%), Nifty PSU Bank (down 0.52%), Nifty Metal (down 0.61%), Nifty Media (down 0.01%), Nifty Auto (down 0.08%), and Nifty Bank (down 0.01%).
Rupee against dollar
Meanwhile, rupee declined 11 paise to 83.69 against the US dollar in early trade on Thursday amid a strengthening dollar against overseas currencies and an increase in crude oil prices. FIIs turning net sellers on Wednesday put further pressure on the domestic currency against the greenback, according to forex experts.
At the interbank foreign exchange, the local unit opened at 83.66, down 8 paise from its previous close of 83.58 against the American currency. It slipped further to 83.69, 11 paise lower from Wednesday's closing rate.
(With PTI inputs)
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