India’s benchmark stock indices BSE Sensex and NSE Nifty 50 jumped to hit new all-time highs today, propelled by domestic reasons such as the hope for favourable election results, and international factors such as low crude oil prices and global market optimism.
The Nifty 50 peaked at an intraday high of 23,110.8, while the Sensex surged to 76,009. The gains were led by the strong performances in banking and IT stocks.
However, the indices ended on a flat note in the volatile session after hitting record highs in the early part of the session. At close, the Sensex was down 19 points or 0.03 percent at 75,390, and the Nifty was down 24 points or 0.11 percent at 22,932.
In the broader market at the BSE, the Mid-Cap index increased by 0.63 percent while the Small-cap index fell 0.09 percent. In the Sensex Index, which is a pack of 30 companies, shares of 12 companies appreciated, 18 companies declined. IndusInd Bank rose 1.65 percent, Axis Bank gained one percent and Bajaj Finance up by 0.87 percent. On the other hand, Wipro dropped 2.36 percent, NTPC declined 1.40 percent and Sun Pharma slipped 1.34 percent.
In sectoral indices at the BSE, 9 Sectors registered gains, 10 witnessed losses, while one sector had a flat day. The realty sector rose 0.76 percent, the Bankex sector gained 0.63 percent and Financial Services added 0.51 percent. On the other hand, Oil and Gas sector fell 0.71 percent and Commodities sector declined 0.61 percent. Consumer durables is the only one that ended nearly flat.
The overall Market breadth was negative, as the shares of 1650 companies advanced, 2323 companies declined and 132 companies remained unchanged.
In the forex market, the rupee closed at 83 rupees and 13 paise against the US dollar today. The dollar index, which indicates the US dollar’s strength against a basket of six other leading currencies was down at 104.65 in intra-day trade.
Asian share indices traded in Green today. South Korea’s KOSPI climbed 1.30 percent, Hong Kong’s Hang Seng rose 1.16 percent, China’s Shanghai Composite index added 1.13 percent, Japan’s NIKKEI-225 gained 0.65 percent and Singapore’s Straits Times was flat. European share markets were mixed in intra-day trade. London’s FTSE 100 slipped 0.26 percent. While, France’s CAC added 0.13 percent and Germany’s DAX was marginally higher.
Oil prices steadied in Asian trading on Monday as markets awaited an OPEC+ meeting on June 2 where producers are expected to discuss maintaining voluntary output cuts for the rest of the year. The Brent crude was up 0.27 percent 82 dollar 36 cents per barrel. The U.S. West Texas Intermediate (WTI) crude futures rose 0.30 percent to 77 dollar 97 cents per barrel.
Gold prices were trading positive in the futures market today. The precious metal was up by 501 rupees, trading at 71,757 rupees per ten grams. Silver futures for July contracts were also up by 1612 rupees, trading at 92,160 rupees per kilogram.
In the global markets, gold was trading 0.50 percent up at 2,368 dollars and 60 cents per ounce on Comex. Silver too was trading in green by 1.89 percent at 31 dollars and eight cents per ounce in the intra-day session, when the reports last came in.
