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Benchmarks extend record breaking run; Nifty tops 18,800; IT, metals shine

CLOSING BELL: Global cues triggered by Powell's positive remarks boosted sentiment. The Sensex scaled a new high at 63,583, while the Nifty 50 came within striking distance of 18,900 on Thursday.


SI Reporter  | New Delhi 


markets, stock market, sensex, correction, nifty, shares, growth, profit, economy, gain

The key benchmark indices extended the winning run to the eight straight day in spite of some volatility owing to the weekly Nifty options expiry. IT, metals, cement and select financial shares logged smart gains in trade on Thursday.

The rallied to a new all-time high of 63,583 on the back of buoyant global cues triggered by positive chief’s remarks.

chair on Wednesday said that it now makes sense to moderate the pace of rate hikes going ahead and that smaller rate increases could start as soon as December.

The Sensex pared gains during the course of the day, and finally ended at 63,284, up 184 points.

The 50 touched a high of 18,888, and settled 54 points higher at 18,813. Analysts expect the Nifty to hit the 20,000-mark soon. READ MORE

Among the Sensex 30 shares, UltraTech Cement and Tata Steel gained nearly 3 per cent each. The IT pack led by TCS, Tech Mahindra, Wipro and Infosys were the other major gainers. READ MORE

On the flip side, Mahindra & Mahindra (M&M) and ICICI Bank slipped 1.4 per cent each. PowerGrid Corporation was the other notable loser.

In the broader markets, the BSE Midcap and Smallcap indices outperformed and were 0.6 per cent each as against 0.3 per cent gain on the benchmark. The overall market breadth too was positive, with 2,063 stocks advancing as against 1,415 stocks declining on the BSE.

Sectorally, the BSE IT index surged 2 per cent, and the Metal index jumped 1.8 per cent. The Realty and Commodities indices also logged strong gains.

Among individual stocks, Zomato gained another XXX per cent after Alibaba sold 263 million shares. Camas Investments bought 98 million shares worth Rs 608 crore of Zomato via block deal on the NSE on Wednesday. READ MORE

That apart, shares of 'Bisleri' manufacturer and distrubutor - Orient Beverages were locked in the 5-per cent upper circuit for a sixth straight trading day, thus hitting a five-year high of Rs 179.05 on the BSE. READ MORE

Primary Market Update

Uniparts India IPO was subscribed up to 1.35 times as of 3:55 PM on Day 2 of the offer period. The retail portion was subscribed 1.7 times and HNIs 2.4 times.


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