RIL, ITC, HDFC twins lift Sensex 345 pts up; Bank Nifty hits new peak
CLOSING BELL ON MAY 29, 2023: The Nifty 50 ended 99 points higher, while the Bank Nifty registered an all-time high at 44,483, before settling up 0.7 per cent.
 "sensex, BSE")
Photo: Bloomberg
Stock Market Highlights: The key benchmark indices logged smart gains on Monday amid improved global sentiment after the US reached a tentative deal to raise the borrowing limit for two years while capping spending over that time.
The S&P BSE Sensex rallied past the 63,000-mark to a high of 63,026 on Monday. The BSE benchmark finally ended 345 points higher at 62,846.
The NSE Nifty 50 hit a high of 18,641, and settled with a gain of 99 points at 18,599. The Bank Nifty hit a fresh all-time high at 44,483. The banking index eventually ended 0.7 per cent higher at 44,312.
Mahindra & Mahindra was the top gainer among the Sensex 30 stocks, up 3.3 per cent post steady Q4 performance. Meanwhile, HDFC, HDFC Bank, ITC and Reliance Industries contribued 208 points to the BSE Sensex.
On the flip side, HCL Technologies, PowerGrid Corporation and Maruti Suzuki were the notable losers.
4:00 PM
Comment :: What will take benchmarks to all-time high?
Domestic equities edge higher following global optimism after the US government reached a tentative agreement to raise the debt ceiling and avert a default. Nifty after giving a gap-up opening traded in positive territory throughout the session to close with gains of 99 points (+0.5%) at 18599 levels. Nifty Bank hit a fresh record high at 44,483 levels. Broader markets along with all major sectors too ended in green. Only Oil & Gas and IT closed lower. Indian markets are seeing strong momentum driven by banking and other heavyweight stocks. We expect the uptrend in Nifty to continue and expect it to head toward its life-high levels on the back of positive global cues, consistent FIIs buying, and healthy corporate earnings.
Views by: Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services
Views by: Siddhartha Khemka, Head - Retail Research, Motilal Oswal Financial Services
3:54 PM
Currency check :: Rupee ends at 82.63/$ against Friday’s close of 82.58/$
3:51 PM
City Union Bank crashes 10% on weak Q4
3:48 PM
Greaves Cotton tumbles 10% as govt to de-register arm from FAME-II scheme
3:45 PM
D B Realty soars 11% ahead of Q4 results on Tuesday
3:42 PM
ICICI Lombard settles 8% higher on ICICI Bank's proposal to raise stake
3:40 PM
Broader market check :: Mid, SmallCap indices underperform frontline peers
3:38 PM
Sectoral check :: IT stocks buck broad-based buying trend
3:37 PM
Sensex Heatmap :: M&M, Titan, Tata Steel lead the 30-pack's rally
3:34 PM
CLOSING BELL :: Nifty fails to hold 18,600
Topics : Stock Market MARKET WRAP MARKET LIVE Markets US debt ceiling Sun Pharma ONGC Clean Science and Technology Greaves Cotton S&P BSE Sensex Markets Sensex Nifty Global stock markets Indian stock markets Stock market investment
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First Published: May 29 2023 | 7:21 AM IST