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Nifty ends at new closing peak of 15,690, Sensex at 52,232; Titan soars 7%

Titan clocked a massive rally of 7 per cent to end the day as top gainer, followed by ONGC, Kotak Bank, Bajaj Finance, Axis Bank, HDFC Bank, and L&T

MARKET WRAP | Markets | Sensex

SI Reporter  | New Delhi 


Stock market updates: Benchmark indices exhibited a healthy trading session on Thursday as firm global cues, a consistent fall in daily Covid-19 cases, and a stronger rupee kept market mood upbeat. The benchmark S&P BSE stayed within a band of 331 points while the Nifty see-sawed between 15,705 and 15,611 levels.

The gains came even as activity in India's dominant services industry contracted in May for the first time in eight months. The Nikkei/IHS Markit Services PMI fell to a nine-month low of 46.4 in May from 54.0 in April, sliding below the 50-level that separates growth from contraction, for the first time in eight months. READ MORE 

The BSE barometer settled at a fresh closing peak of 52,232 levels, up 383 points or 0.74 per cent with the index breadth firmly tilting towards gainers. Only 9 of the 30 constituents ended the day in the red including IndusInd Bank, Bajaj Auto, M&M, Dr Reddy's Labs, and HCL Tech. 

On the upside, Titan clocked a massive rally of 7 per cent to end the day as top gainer, followed by ONGC, Kotak Bank, Bajaj Finance, Axis Bank, HDFC Bank, and L&T. 

On the NSE, the 50-share index added 114 points, or 0.73 per cent, to settle the day near record peak levels of 15,705 at 15,690.

Investors pulled out funds from the Pharma stocks as the index ended as the sole loser in a firm market, down 0.26 per cent. On the upside, the Nifty Realty index jumped 4 per cent, where Oberoi Realty, Phoenix and Prestige Estates surged between 6 per cent and 10 per cent on the BSE while Indiabulls Real Estate, Sunteck Realty, Sobha, DLF and Godrej Properties gained in the range of 2 per cent to 5 per cent.  

The broader markets, meanwhile, outperformed the headline indices and hit new record highs for second consecutive day. The BSE MidCap and SmallCap indices ended 1 per cent higher each after hitting a record peak of 22,395 and 24,138 levels, respectively. 

Global cues
Asian shares were a touch below a recent three-month top on Thursday with China a tad weaker as investors weighed inflation concerns ahead of key US economic data while oil prices rose to near one and a half year highs.

MSCI's broadest index of Asia-Pacific shares outside Japan rose 0.3 per cent, Japan's Nikkei added 0.4 per cent, and Australian shares climbed to all-time highs. 

In Europe, shares were mildly lower as US stock futures indicated a flat-to-negative start on Wall Street later today. The pan-European STOXX 600 index was down 0.2 per cent, and the UK's FTSE 100 eased 0.7 per cent.

(With inputs from Reuters)


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