The equity benchmark Nifty 50 extended yesterday's gain and made an all new lifetime high of 10,178.95 points on Tuesday as market participants await the outcome of US Federal Reserve meeting starting from today.
The equity benchmark Nifty 50 extended yesterday’s gain and made an all new lifetime high of 10,178.95 points on Tuesday as market participants await the outcome of US Federal Reserve meeting starting from today. NSE Nifty advanced 22.5 points to open at a record high of 10,175.6 points while BSE Sensex gained 98.68 points to open at 32,522.44 points. Tata Motors shares were the top gainer on the benchmark Sensex, rose as much as 4,53% to the day’s high of Rs 423.7 after execution of multiple block deals. Within minutes of trading both the key indices fell into negative territory, Sensex fell 0.03% to 32,412.59 points and Nifty lost 0.05% at 10,147.7 points.
Shares of heavyweight companies such as HDFC Bank, ITC, Tata Motors, Gail, and IndusInd Bank contributed the most to the Nifty 50 gains. The stocks of Gail (up 3.6%), Tata Motors (up 4.12%), Hero MotoCorp (up 0.41%), Ambuja Cement (up 1.48%), and IndusInd Bank (up 0.43%) were the top gainers on the index. Out of 51 listed scrips on NSE Nifty, only 20 are trading in green while 31 fell into negative territory while most of the sectoral indices of NSE are trading mixed as 6 out of 11 declined.
The rupee dropped marginally against the US currency to 64.14 in early trade today on some dollar demand from importers and banks. The rupee opened lower by 5 paise at 64.18 against the last close of 64.13 at the interbank foreign exchange.
The S&P 500 ended slightly higher on Monday as financial stocks rose ahead of a Federal Reserve meeting, but the Nasdaq pared gains sharply as technology stocks lost ground late in the session. The Fed meeting, which is starting from today, is expected to yield details on how the central bank will unwind its $4.2 trillion portfolio of Treasuries and mortgage-backed securities, nearly a decade after the global financial crisis. The Dow Jones Industrial Average rose 0.28% to 22,331.35 points, the S&P 500 gained 0.15% to 2,503.87 points and the Nasdaq Composite added 0.1% to 6,454.64 points.